Mimecast Closes Strongest Expansion Year on Record

LEXINGTON, Mass., May 7, 2024 – Mimecast, a global cybersecurity company, capped a year of robust growth with the largest new and expansion revenue gains in the company’s history.  Customers are responding positively to Mimecast's strong product innovation and acquisition strategy. For example, the recently launched Cloud Integrated Email Security solution, designed to protect Microsoft 365 via robust API integration, has already onboarded customers in every global operating region. More than half of those customers have come through valued Managed Service Provider (MSP) partners. Additionally, the company has seen growth with its awareness training platform, and rapid adoption of its DMARC solution, which saw a 38% increase year-over-year. 

Mimecast’s AI-powered platform is engineered to mitigate risk and manage complexities across the shifting threat landscape for more than 42,000 global customers, protecting 26 million end users, an end user increase of 15% year over year. In Q4, the platform analyzed 1.5 billion emails per day and executed 2.7 million archive queries per week.  In January 2024 alone, Mimecast-protected systems blocked 250 million attacks, an all-time high for one month.

Fueling its evolution into the next fiscal year, the company appointed Chris Wey as Chief Transformation Officer, capitalizing on the momentum to catalyze market expansion and portfolio growth. He brings more than 25 years of experience in enterprise software and cybersecurity, with proven success in driving operational excellence, championing innovation, and leading both organic and inorganic growth. He will be focused on high growth projects that deliver customer and business value in the years to come.

“Mimecast is committed to technology innovation and maintaining a customer-centric approach,” says Marc van Zadelhoff, Mimecast’s new CEO who joined the company in January. “Our growth and evolution in the last fiscal year, particularly Q4, has been significant and will allow us to continue expanding, investing, and acquiring in line with our vision to ensure for our customers, channel partners and the industry that every point of digital interaction is not a potential vulnerability but an opportunity for innovation and connection.”

Innovation that matters

Responding to the increasing sophistication of impersonation and business email compromise (BEC) attacks, Mimecast continues to invest heavily in advanced AI and Natural Language Processing (NLP) capabilities to help stop these attacks as part of a layered security model. In addition, the company has released version 2.0 of its CyberGraph product and added over 30 new capabilities to the Cloud Integrated Email Security solution.

Advancement through acquisition 

Demonstrating its commitment to continuous innovation and expansion, earlier this year Mimecast announced the acquisition of Elevate Security, strengthening its offerings with the start-up's proactive insights and deeper visibility into human behaviors and risk. With initial integration into Mimecast Awareness Training, the platform now drives targeted intervention and training to help reduce the overall risk for companies. 

Expansion in new markets 

Mimecast closed fiscal 2024 with the opening of its first Canadian office in Mississauga, Ontario. With 70% of the workforce comprising engineers and product roles, the office is the second Engineering Center of Excellence opened in fiscal 2024, following the successful launch of another in India in July 2023.  

The company continues its market expansion into fiscal year 2025, starting with the launch of operations in Italy and Spain, to be followed by Mexico, Switzerland, Philippines, and Indonesia. Recently launched expansions in France, Singapore, Hong Kong, and Malaysia are already driving productive growth and engagement with partners and customers. 

Leading the conversation on cybersecurity trends

Mimecast brings together industry experts, technology partners and customers to drive critical discussions and learning through virtual and in-person conferences, including SecOps Virtual 2024 in May. The company is leading conversations on emerging trends in the threat landscape, innovation strategies and standards of excellence around the use of AI, advanced risk mitigation and leveraging data to keep organizations safe. 

These insightful events, coupled with the brand’s ongoing global webinar series, demonstrate Mimecast’s commitment to driving the industry forward by creating opportunities for customers, partners and industry experts to network, learn from each other and innovate together.

Mimecast: Work Protected™ 

Mimecast provides security for the collaborative world with an AI-powered, API-enabled platform built to protect businesses from a broad spectrum of cyber threats, including phishing, malicious links and attachments, business email compromise, and account takeover. More than 42,000 businesses globally rely on Mimecast for email and collaboration security, human risk management, security awareness training, and cloud archiving.

Mimecast, the Mimecast logo, and Work Protected are either registered trademarks or trademarks of Mimecast Services Limited in the United States and/or other countries. All other third-party trademarks and logos contained in this press release are the property of their respective owners.