Insight Venture Partners has led a $62m Series C financing round for Mimecast, a UK-based supplier of cloud-based email archiving, security and continuity for Microsoft Exchange and Office 365.
Mimecast said it 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.
Existing investor Dawn Capital also participated in the round.
Mimecast was founded in the UK in 2003 and has grown rapidly, with over 50 per cent year on year revenue growth recorded in six of the past nine years.
Today, the company has over 6,000 customers globally – including 70 per cent of the UK’s top 100 law firms – and over 1.5 million users globally.
Mimecast said it plans to grow its existing business within the European, American and South African markets and drive innovations in corporate email.
“Email is the most important means of business communication and, better than anyone else, Mimecast delivers a true integrated solution for secure and accessible email,” said Jeff Lieberman, a managing director at Insight Venture Partners.
“Mimecast has already achieved strong success and with their product superiority, the industry’s move towards cloud solutions and a very large market opportunity, we believe that Mimecast is poised to achieve high growth and become the global leader in unified email management.”
Shea & Company acted as the exclusive placement agent, and Taylor Wessing acted as lead counsel to Mimecast, supported by Goodwin Procter, on the deal.
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