Mimecast wins $62M VC funding

UK firm Mimecast has received a $US62 million boost for its cloud-based email platform in the form of venture capital funding.

The archiving, security and continuity platform is designed for for Microsoft Exchange and Office 365 users. Mimecast plans to use the funding to accelerate the development and deployment of new technology, and to support expansion in the US market.

Founded in the UK in 2003, Mimecast now claims over 6,000 customers globally – including 70 percent of the UK’s top 100 law firms – and over 1.5 million users worldwide.

Peter Bauer, CEO and co-founder, Mimecast commented: “Today’s businesses are as dependent on email as ever but, increasingly, email struggles to keep up as the way we create, store and share information changes.

“At Mimecast, we believe email needs to be rewired if it is to continue to deliver real value to businesses. We believe that the future is a more interactive archiving model, where IT folk and end users alike can derive more value in real time, on a day-to-day basis on any technology platform they choose to use.

“The cloud has the potential to democratise information management and deliver these kinds of powerful productivity tools to businesses of all sizes, rather than just being the preserve of the largest enterprises.”