Mimecast raises $62 million for Microsoft Exchange and Office 365 cloud-based email management system

Mimecast, a cloud-based email management company, has raised $62 million in a Series C funding round led by Insight Venture Partners. The company, which offers solutions for users of Microsoft Exchange and Office 365, plans to use the funds to expand its global presence and product portfolio.

Mimecast's email management system offers security, archiving, continuity and migration services for businesses that rely on Microsoft email platforms. The company claims to have more than 12.000 customers and 2,5 million users in 100 countries and processes more than 180 million emails a day.

The company was founded in 2003 in London and has since opened offices in Boston, Cape Town, Johannesburg, Melbourne and San Francisco. Mimecast CEO and co-founder Peter Bauer said the company has seen strong growth in the past year, especially in the US market.

"We are delighted to partner with Insight Venture Partners as we look to accelerate our growth and expand our market share," Bauer said in a statement. “This investment will allow us to continue to innovate and deliver market-leading solutions that address the challenges of email management in the cloud era.”

Insight Venture Partners is a leading venture capital and private equity firm focusing on software, Internet and data services companies. The firm has invested in more than 200 companies, including Twitter, Tumblr, Udemy and Shopify.

Jeff Horing, co-founder and CEO of Insight Venture Partners, said Mimecast is a leader in the cloud-based email management space and the company is excited to support its growth.

“Mimecast has a proven track record of delivering high-quality solutions that meet the evolving needs of email users,” said Horing. "We believe Mimecast has a tremendous opportunity to expand its customer base and product offerings, and we look forward to working with them as they pursue their vision."

Mimecast, a startup that provides email security, continuity and archiving software for Microsoft Exchange and Office 365, has raised $62,15 million in Series C funding led by private equity firm Insight Venture Partners, with participation from existing investor Dawn Capital. This brings Mimecast's total funding to more than $80 million.

Founded in the United Kingdom in 2003 by Peter Bauer and Neil Murray, Mimecast's cloud-based platform extends the capabilities of Microsoft email systems by integrating additional storage, archiving, and spam/virus protection. Built-in Mimecast security settings that the user can configure “by email” before pressing send and real-time file search.

Mimecast currently has nearly 6.000 customers (and 1,5 million users) across a variety of industries including financial services, legal, manufacturing and the public sector. The startup claims to have seen 50 percent year-over-year revenue growth in six of the last nine years.

As Bauer writes in a blog post announcing the news, about 50% of corporate email users are still using Exchange 2003 and Exchange 2007 and many are "strangled by the 'one-off' applications they've added to their network over the last few years." five years or more. .” The company helps these users continue with Exchange 2010 and 2013.