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Mimecast receives R158 million worth of funds

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Mimecast, founded in 2003 in the UK by Peter Bauer and Neil Murray, both originating from South Africa, now boasts a global user base of around 2 500 customers. The company has just recently secured R158 million worth of funding. The company is said to use these funds to increase its research and development and to build on its market presence.

Founded in the UK in 2003 by Peter Bauer (CEO) and Neil Murray (CTO),

Mimecast’s cloud based platform extends the capabilities of in-house email

systems by incorporating bottomless storage, archiving, eDiscovery,

spam/virus protection and continuous availability.

By removing the need for several different in-house solutions and extending the life and value of

existing Microsoft Exchange and Microsoft Outlook platforms, Mimecast

minimises risk and complexity to provide end-to-end control of email at a

significantly reduced cost. Consequently, Mimecast’s business has proved

robust during the recession, the company having experienced triple digit

revenue growth in each of the last 3 financial years.

Mimecast supports a global base approaching 2,500 customers across a number

of industries including financial services, legal, manufacturing and the

public sector and has offices in Europe, North America, Africa, the Middle

East and the Channel Islands.

Mimecast CEO and co-founder, Peter Bauer, said: ‚The global economic

downturn has brought the savings we deliver to our customers into sharp

focus. SaaS has become mainstream and our proven ability to deliver a

reliable service with very short implementation cycles puts Mimecast in an

ideal position to help thousands more companies realise the benefits that

cloud computing can bring. This new funding will help us build market

leadership further.‚

Index Ventures partner, Bernard Dalle, who will be joining the Mimecast

board, said: ‚Thousands of customers have chosen to move away from a

cocktail of on-premise software applications for Mimecast’s unique

integrated service platform. We have been very impressed by the company’s

market traction, continued growth rate and the dedication of the team.”

Norman Fiore, partner at Dawn Capital and an existing board member of

Mimecast, commented: ‚As a midsize fund, it became clear over time that

Mimecast’s dramatic growth would require us to look externally to fully

exploit the market opportunity. We are particularly delighted to welcome

Index Ventures whose strong track record in helping European companies

succeed in the US makes them the ideal growth partner for Mimecast’s

outstanding team.‚

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