Firmex

Type| Private
Industry| Virtual data room
Founded| 2006; 20 years ago (2006)
Headquarters|

Toronto, Ontario, Canada

Website| firmex.com

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

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 2011, Firmex reached a customer milestone of 1,000.[8] During 2012, the company's workforce grew by 25 percent.[9]

In 2014, Firmex was named No. 13 in the Deloitte Technology Fast 50.[10]

In 2015 Firmex was a Deloitte Fast 500 winner.[11]

In 2016, Novacap, a Montreal-based Private Equity Fund, acquired a majority interest in Firmex.[12] Firmex's customers started over 12000 virtual data rooms.

In 2018, Firmex expanded its European operations, opening an office in London, England.[13]

In 2019, VERTU Capital, a Toronto-based Private Equity Fund, BDC Capital and Firmex management acquired Firmex.[14]

In 2019, Firmex was awarded the 2019 Stevie Awards for Customer Service.[15]

In 2020, Firmex was awarded as one of Canada's Most Admired Corporate Cultures.[16]

## References

1. ↑ A virtual smoke-filled room | The Globe & Mail
2. ↑ Renewable Energy Industry Adopts Firmex for EPC
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. ↑ Yahoo News
9. ↑ Money.ca[yes|permanent dead link|dead link}}]
10. ↑ http://www2.deloitte.com/content/dam/Deloitte/ca/Documents/technology-media-telecommunications/ca-en-tmt-technology-fast-50-winners-2014.pdf [bare URL PDF]
11. ↑ "Apply Now – 2020 Technology Fast 500 Awards" (in en). https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/fast500-apply.html.
12. ↑ "NOVACAP Invests in Firmex to Accelerate Growth". https://www.novacap.ca/en/news/tmt/novacap-invests-in-firmex-to-accelerate-growth/.
13. ↑ Firmex (2018-01-10). "Firmex Opens New EMEA Headquarters in London, UK" (in en-US). https://www.prweb.com/releases/2018/01/prweb15066697.htm.
14. ↑ Dorbian, Iris (2019-02-05). "VERTU and BDC to acquire Firmex from Novacap" (in en-US). https://www.pehub.com/vertu-and-bdc-to-acquire-firmex-from-novacap/.
15. ↑ "Firmex Wins 2019 Stevie Awards for Customer Service" (in en-US). 2019-12-10. https://dazeinfo.com/2019/12/10/firmex-wins-2019-stevie-awards-for-customer-service/.
16. ↑ "2020 Canada's Most Admired Corporate Cultures™ and Canada's Most Admired CEO™ Winners Announced". https://www.newswire.ca/news-releases/2020-canada-s-most-admired-corporate-cultures-tm-and-canada-s-most-admired-ceo-tm-winners-announced-814675067.

## External links

* Firmex website

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