Location: Moorgate, London
Programme: Enterprise Capital Funds
Creating Simplicity From Complexity
Social media and collaboration tools have exploded on the market over the past few years but none have been, or are likely to be, a replacement for email. Email is still the communications and data backbone of all organizations large and small, private or public sector. But managing the growth of advanced email attacks, spam and other security risks bring complexity and cost for businesses. Mimecast set out to make email safer for business and improve the cyber resilience of its customers.
Founded in 2003, the company’s cloud-based security, archiving and continuity services protect email, and deliver comprehensive email risk management in a single, fully-integrated subscription service. Mimecast reduces email risk and eliminates the complexity and cost of managing the array of point solutions traditionally used to protect email and its data. Also for customers that have migrated to cloud services like Microsoft Office 365, Mimecast mitigates single vendor exposure by strengthening security coverage, combating downtime and improving archiving.
Mimecast Email Security protects against malware, spam, advanced phishing, impersonation and other emerging attacks, while preventing data leaks. Mimecast Mailbox Continuity ensures employees can continue using email during planned and unplanned outages. Mimecast Cloud Archive unifies email, file and Instant Messaging data to support e-discovery, GDPR compliance and gives employees fast access to their personal archive via PC, Mac and mobile apps.
£3m of funding from Dawn Capital – supported by the Enterprise Capital Funds programme – allowed Mimecast to expand internationally, most importantly in the US, to further develop the core platform and to add a number of new products. Further to the important early stage funding, Mimecast then went on to raise nearly $100m in growth capital from other VCs and now has annual recurring revenues in excess of $261m.
Mimecast listed on NASDAQ under the ticker MIME in November 2015. As of August 2018, the company has more than 30,000 customers and protects millions of their employees worldwide. It has more than 1,300 employees serving the needs of these customers in the UK, and Europe, USA, Australia, the Middle East and South Africa.
Peter Bauer, Mimecast CEO, said:
“Funding has helped us to develop the potential of our business and has played an important part in our story as a company. Dawn has been a great partner for our company as we have grown internationally.”