About

We invest in ambitious high-growth, mission-critical European software champions, helping them to reach their full potential.

We invest in ambitious high-growth, mission-critical European software champions, helping them to reach their full potential.

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Responsibility

We believe that a business's approach to sustainability is a solid indicator of its prospects of long-term, value creation.

We believe that a business's approach to sustainability is a solid indicator of its prospects of long-term, value creation.

Discover how we collaborate with our portfolio companies to help them improve their sustainability performance. 

News & Insights

The latest news and insights from Bregal Milestone and our portfolio companies.

The latest news and insights from Bregal Milestone and our portfolio companies.

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The latest news from our firm and portfolio companies.

Explore our case studies, events, and insights.

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M-Files

100+
COUNTRIES

Worldwide

$80
MILLION

Round investment in early 2021

Industry: B2B Software
Year invested: 2020
Status: Current
Location: USA, Finland
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M-Files is a provider of an intelligent, repository-neutral platform that utilizes metadata and artificial intelligence to break down information silos and unify systems, data and content.`

Enhancing collaboration and productivity through connected content and intelligent automation.

M-Files' mission is to transform how companies do business in the digital, work-from-anywhere world. M-Files’ AI-powered intelligent information management connects siloed systems, applications and repositories and provides a full view of all relevant information across an organization.

This makes it possible to serve up the right information to the right people at the right time while maintaining complete control and compliance. From SMEs to global enterprises, M‑Files is a trusted partner to thousands of customers in more than 100 countries. It was also named a Visionary by Gartner in 2020 for the fifth consecutive year.

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Our partnership with Antti Nivala and his management team began almost two years before we completed our investment in M-Files in 2021. Since first meeting Antti in 2019 we proactively supported M-Files on their go-to-market strategy as they successfully transitioned M-Files to SaaS and achieved significant size, scale, and growth. So, when Antti invited us to officially help him tackle the next challenge and accelerate his North American expansion, we were thrilled.

We led an $80m round investment in early 2021, and in August 2024, M-Files announced a majority recapitalization investment led by Haveli Investments, and Bregal Milestone.

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Bregal Milestone’s extensive experience investing in the B2B enterprise software sector and their philosophy in partnering with fast-growing companies like M-Files made the firm an attractive investment partner. We’ve identified opportunities to accelerate our growth and further expand M-Files’ market penetration especially in North America.

Antti Nivala

Co-Founder - M-Files