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

StorIT appointed Unitrends Distributor for MENA

StorIT has announced that it has signed a distribution agreement with Unitrends. Read More

Portable solar power to the people

Schneider Electric, a global specialist in energy management, is commercialising its solar powered portable LED lamps with mobile phone charger, the Mobiya TS 120S, in order to offer innovative, reliable and affordable products to people living without access to electricity. Read More

ZipZap from Paycorp is Microsoft’s mPOS solution of choice

ZipZap, the mobile POS (mPOS) solution from Paycorp, has partnered with Microsoft Mobile to offer businesses and retailers a mobile solution that enables them to accept payments from customers wherever they are, transacting anywhere, anytime. Read More

Frost & Sullivan applauds PCCW Global for addressing SSA connectivity demands

PCCW Global, the international operating division of HKT, Hong Kong’s premier telecommunications service provider, has been recognized by Frost & Sullivan with the 2015 Sub-Saharan African (SSA) Connectivity Solutions Customer Value Leadership Award.  Read More

Airtel Money VISA card continues to drive financial inclusion

One year after Airtel Kenya launched the Airtel Money VISA card, the debit card continues to allow easy access funds 24 hours a day, bringing new point-of-sale and ATM transaction options to users.             Read More

Ricoh’s improved A3 multifunction devices monitor, report and connect to the cloud

Ricoh has released its new 3054SP/3554SP series of A3 black-and-white multifunction devices, for medium to large offices, that support intelligent document functionality. Read More

Dell continues innovation with growth of comprehensive education solutions portfolio

Dell is maximising engagement in the classroom by releasing a range of education solutions to meet individual learning needs. Read More

FVC signs with Pivot3 for its Hyper Converged Infrastructure solutions across MEA

FVC, a leading Value Added Distributor (VAD) in the Middle East & Africa (MEA), has partnered with Pivot3 to deliver hyper-converged appliances and solutions to its partners throughout the Middle East and Africa. Read More

Five good reasons to buy properly licensed business software

If you’re running a small business on a tight budget, you might be tempted to think of pirating your accounting or ERP software as a harmless way to save a bit of money. Think again - that pirated software could end up costing you more than you would have needed ... Read More

Q-KON enlarges its African footprint with Newtec certified partnership

Q-KON has recently boosted its footprint into Africa by establishing its partnership with the global Newtec Business Partner Program (bePART®) and is therefore an official distributor of Newtec satcom products. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Kenyan SACCOS riding on innovation to attract customersKenyan SACCOS riding on innovation to attract customers

As confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.