Type Private Website Firmex | Industry Virtual data room Founded 2006 | |
 | ||
Headquarters Toronto, Ontario, Canada | ||
Firmex is a cloud-based Virtual data room service provider headquartered in Toronto, Ontario, Canada.
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, as well as Regulatory compliance and Governance processes.
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 was commercialized by Version 5.1 in 2006 as Firmex Inc.
From 2007 to 2008, Firmex raised a total of $4.4 million from angel investors. By the end of 2009, the company had licensed 500 customers running over 2,500 transactions a year.
In 2011, Firmex reached a customer milestone of 1,000. During 2012, the company's workforce grew by 25 percent. In 2014, Firmex was named No. 13 in the Deloitte Technology Fast 50.