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

CA Technologies introduces the Management Cloud

CA Southern Africa has revealed that at the recently held WORLD ’14, CA Technologies introduced the Management Cloud – a broad portfolio of easy-to-use CA applications, delivered from the cloud, that enable customers to make the right portfolio decisions, deliver exceptional service experience and empower the modern, mobile workforce.    Read More

Palladium leads the charge for accountants

Palladium Software has partnered with the Southern African Institute of Business Accountants (SAIBA) and will now offer its clients and business partners one year's free membership with the Institute.  Read More

Wallettec brings mobile payment solutions to business

For the first time in Africa, it is possible for businesses to process mobile payment transactions at any Point of Sale and allow mobile money users to pay with their digital or crypto currency not only online but bricks and mortar as well, thanks to Wallettec.  Read More

Pamoja and SEACOM – strength in the Cloud

Pamoja, a leading Cloud services company, continues to dominate this area of the market and is progressing in its quest to cultivate a Cloud services marketplace for the continent. The Company is achieving this by leveraging one of its primary differentiating qualities, namely the ongoing investment of network capacity by ... Read More

Acer to meet global carbon emissions reduction goal ahead of 2015 target

With the use of 100% green electricity by Acer’s U.S. operations, the ratio of green power usage by Acer worldwide will exceed 30% by the end of 2014. Read More

MakerBot Expands 3D printer distribution and sales to South Africa

MakerBot has partnered with Rectron SA to distribute its 3D printers and scanners in the region. Read More

RAD to Exhibit the First Customer Edge Distributed NFV Solution and Ecosystem at AfricaCom 2014

RAD has announced that it will be exhibiting the industry’s first dedicated customer-edge Distributed Network Functions Virtualization (D-NFV) solution at AfricaCom 2014.   Read More

BMG selects JDA Cloud solutions

JDA Software Group has announced that Bearing Man Group (BMG), a leading engineering solutions provider in Africa, has selected JDA Cloud for the JDA® Demand, JDA® Fulfillment and JDA® Warehouse Management solutions from the JDA Distribution Centric Supply Chain suite to gain better visibility and insight into regional demand for ... Read More

Softworx launches African growth initiative

EOH Company and Infor Master Partner, Softworx  has launched the Africa Partner Network (Softworx APN) to channel Infor software sales and consulting services throughout Sub-Saharan Africa.   Read More

IBM Announces First Commercial Application of IBM Watson in Africa

IBM and Metropolitan Health have announced the first commercial application of Watson in Africa. IBM's Watson is a groundbreaking computing platform able to interact in natural language.  Read More

PRESS OFFICES

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

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

VMware Study: Businesses can Take Three Weeks to get Employees Mobile-Ready

EMEA businesses say concerns over trust, ownership and delivery capability may hold back taking advantage of the mobile cloud-era.