Mimecast secures USD62 million investment from Insight Venture Partners

INDUSTRY

|
Image: Peter Bauer. By Mimecast
Peter Bauer

Cloud email archiving, security and continuity firm Mimecast has announced that it has secured $62.15 million in Series C funding led by global private equity firm, Insight Venture Partners, with existing investors Dawn Capital also participating. Mimecast plans to use the funding to accelerate the development and deployment of new technology, and to support plans for rapid expansion in the US market.  

Founded in the UK in 2003 by Peter Bauer (CEO) and Neil Murray (CTO), Mimecast has grown rapidly, with over 50 percent year on year revenue growth recorded in six of the past nine years. Today, the company has over 6,000 customers globally and over 1.5 million users worldwide.

In South Africa, the operation has continued to grow its market leadership in Cloud email security, netting 31.2% of the market share according to the bi-annual BackChannel Hosted Email Security Report, released in July 2012.

In addition to growing its existing business within the European, American and South African markets, Mimecast intends to use the investment to drive innovations in corporate email. The company’s technology has already played an instrumental role in changing the way businesses deploy email; leading the transition from fragmented LAN-based infrastructures to a single platform cloud solution, Unified Email Management (UEM). Mimecast will now focus on continuing this evolution, using its Software-as-a-Service technology to create an Information Banking platform that allows businesses to unlock the inherent value stored within corporate email.

 

 



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE INDUSTRY NEWS

World’s first biocompatible and non-toxic technology for antibacterial plastic

Parx Plastics is launching its first ready to use Saniconcentrates™ for manufacturers in Europe and the US to safely create self-sanitizing products with an antibacterial property of up to 99% within 24 hours. Read More

Gemalto unveils hub service to accelerate mobile payment and other secure services

Gemalto, a world leader in digital security, has introduced its Allynis Trusted Services Hub, a turnkey business service that enables financial institutions, enterprises, transport operators and more generally all digital service providers to benefit from a single connection in order to securely deploy their value-added and mobile payment services across ... Read More

Orange Business Services wins satellite contract with BW Offshore

BW Offshore has signed a 5-year, $12 million contract with Orange Business Service for an end-to-end satellite communication solution for its fleet of highly-specialised oil and gas production vessels. Read More

Q-KON connectivity solution for Africa’s Point of Sale headache

South African telecommunications engineering firm Q-KON, has demonstrated the advantages of using the StarLight Satellite Access Service to deliver reliable connectivity for Point-of-Sale applications and to provide support to service providers who need to address issues that hamper connectivity for PoS devices across Africa.   Read More

Rapid Response launched with Pamoja Cloud service

Rapid Response, an award winning mobile emergency application, is now available to South African mobile-users, providing a fast link to help at hand when they need it most.   Read More

MTN App of the Year: Zapper zaps Best Microsoft app, wins Consumer Choice Award

Already taking the restaurant business by storm across South Africa, Europe and beyond, secure payment app Zapper has notched up two wins at MTN’s App of the Year competition.  Read More

Retailer spend on technology for efficiency and customer satisfaction is up

XON Retail Solutions has enjoyed phenomenal success in the past financial year by gaining a 25% revenue growth over the previous year, which demonstrates robust commitment from retailers to improve operational efficiencies and seek improved customer satisfaction. Read More

Mota-Engil Africa uses Integr8 for infrastructure deployment project

Integr8, an established leading provider of managed ICT services, has completed a complex, enterprise-wide virtual server and storage infrastructure integration project for global multi-disciplinary engineering company Mota-Engil. Read More

Riverbed SteelCentral AppInternals 9.0 adds mobile app support and HDAnalytics

AppInternals now captures second-by-second application performance insights in a business context from device to data centre. Read More

SureSwipe launches SureSwipe Move - an MPOS solution for SMEs on the go

SureSwipe, a leading Payment Services Provider (PSP), has launched the SureSwipe Move Mobile Point of Sale (MPOS) solution in South Africa.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

MFarmer SMS redefines market access for Ugandan farmersMFarmer SMS redefines market access for Ugandan farmers

Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. 

IN DEPTH

NIG President speaks his mindNIG President speaks his mind

Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.