Firmex

Last updated
Firmex
Company type Private
Industry Virtual data room
Founded2006;18 years ago (2006)
Headquarters
Website firmex.com

Firmex is a cloud-based Virtual data room service provider headquartered in Toronto, Ontario, Canada. [1]

Contents

Virtual data rooms facilitate secure document sharing across corporate firewalls. They are used for highly confidential or complex transactions seen with M&A, Corporate Finance, and Procurement, [2] as well as Regulatory compliance and Governance processes. [3]

History

In 2004, Davies Ward Phillips & Vineberg, a Toronto-based international business law firm, contracted Version 5.1 to develop the Davies Deal Room, online virtual data room software designed to facilitate legal transactions and M&A transactions. This project [4] was commercialized by Version 5.1 in 2006 as Firmex Inc. [5]

From 2007 to 2008, Firmex raised a total of $4.4 million from angel investors. [6] By the end of 2009, the company had licensed 500 customers running over 2,500 transactions a year. [7]

In 2014, Firmex was named No. 13 in the Deloitte Technology Fast 50. [8]

In 2016, Novacap, a Montreal-based Private Equity Fund, acquired a majority interest in Firmex. [9] Firmex's customers started over 12000 virtual data rooms.

In 2018, Firmex expanded its European operations, opening an office in London, England. [10]

In 2019, VERTU Capital, a Toronto-based Private Equity Fund, BDC Capital and Firmex management acquired Firmex. [11]

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References

  1. A virtual smoke-filled room | The Globe & Mail
  2. "Renewable Energy Industry Adopts Firmex for EPC". Archived from the original on 2015-02-14. Retrieved 2012-01-24.
  3. Firmex Inc. Recognizes Need to Share Information Beyond the Office Firewall
  4. Davies Receives Award for Client Service Technology
  5. Firmex
  6. Klass Capital
  7. Legal Technology Companies & Services
  8. http://www2.deloitte.com/content/dam/Deloitte/ca/Documents/technology-media-telecommunications/ca-en-tmt-technology-fast-50-winners-2014.pdf [ bare URL PDF ]
  9. "NOVACAP Invests in Firmex to Accelerate Growth". www.novacap.ca. Retrieved 2020-04-23.
  10. Firmex (2018-01-10). "Firmex Opens New EMEA Headquarters in London, UK". Firmex Resources. Retrieved 2020-04-23.
  11. Dorbian, Iris (2019-02-05). "VERTU and BDC to acquire Firmex from Novacap". PE Hub. Retrieved 2020-04-23.