Mimecast secures USD62 million investment from Insight Venture Partners
INDUSTRY| Sept. 27, 2012, 10:34 a.m.
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.
MORE INDUSTRY NEWS
averda looks to clean more cities in Africaaverda, a global provider of innovative integrated waste management services, has showcased its new equipment dedicated to serve Casablanca. Read More
CA delivers latest SaaS-based enterprise mobility management with Zero-Day support for iOS 8CA Southern Africa has confirmed that CA Technologies (NASDAQ: CA) is continuing to transform enterprises into being “Mobile First” with the release of its SaaS-based Enterprise Mobility Management (EMM) solution suite and providing zero-day support for iOS 8 across mobile device, application, content and email management. Read More
Orange Business Services launches worldwide location services for Machine to Machine SIM cardsThe new Machine to Machine (M2M) worldwide geolocation offering from Orange Business Services provides real-time location tracking of corporate assets and equipment anywhere in the world via cellular networks, regardless of the operator. Read More
Solarcentury to build the largest carport solar system in AfricaSolarcentury is to design and construct Africa’s largest solar carport on the uppermost storey of a car park at Garden City Mall, part of the new 32-acre integrated residential, retail park, hotel and office development on Nairobi’s Thika Superhighway. Read More
Pamoja, the platform of choice for DHLRUBiQ, a Cloud solution that is run on Cloud platform infrastructure from leading Cloud services company Pamoja, has served as the platform of choice to expand DHL’s global back office systems. Preliminary testing has revealed that the project has been successful. Read More
PayPal announces collaboration with PayGate in South AfricaWith the announcement of a partnership between PayPal and local payment service provider PayGate, it is now easier than ever for merchants to accept online payments in South Africa. Read More
World’s first biocompatible and non-toxic technology for antibacterial plasticParx 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 servicesGemalto, 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 OffshoreBW 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 headacheSouth 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
FEATURED STORYMFarmer 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.
BEST READ NEWS
IN DEPTHiProcure delivers inputs to farmers’ doorsteps using ICTs
An innovation dubbed iProcure is already being used by several agro input firms which are now relying on it to distribute their products to farmers.
COMPANY NEWSVMware announces VMware Workstation 11 and VMware Player 7 Pro
VMware Workstation 11 marks 15 years of innovation with Windows 10 Tech Preview readiness, state of the art performance and cloud connectivity.Schneider Electric signs exclusive off-grid solar distribution agreement with Zimbabwean firm
Schneider Electric has announced the signing of an exclusive agreement with Samansco, a Zimbabwean renewable energy, back-up power and appropriate technology company.SAP Innovation Helps The Global Fund Fight AIDS, TB and Malaria in Africa
Extending a longstanding partnership, SAP is a founding member of The Global Fund’s new Innovation Coalition to support disease prevention and treatment.