Mimecast reports significant growth in its third quarter and FY’ 2009 to date
LONDON, Mimecast®, a holistic email management company offering SaaS-based email archiving, continuity, security and policy control, today announced significant growth and momentum in their expanding global business.
Revenue in the first nine months of fiscal 2009 (Dec 31st 2008) grew by 318% compared to the same period in the previous year. The average number of users per customer also jumped significantly allowing the company to nearly triple the user base in the 12 months to Dec 31st 2008, with user retention remaining at 99%.
The company has also expanded worldwide operations by opening offices in the United States, United Arab Emirates and the Nordic region. During this period of aggressive expansion, the company tripled its global employee base and established itself in new regional datacenters.
Customer acquisition has come from all regions and industries; but has been particularly strong in the US with the addition of healthcare customers University of Tennessee Medical Center and Eastern Connecticut Health Network; legal customers Brown Rudnick, Fish & Richardson, and Miles Stockbridge.
“Mimecast’s SaaS approach provided the services of four different products in one solution,” said Ken Adams, CIO of Miles & Stockbridge, who employed Mimecast to handle archiving, continuity, security and storage issues. “The management of those four different programs alone was more costly to my IT department than the money I spent in licensing.”
The company has also been recognised as providing the highest quality services to the legal sector both in the United States and United Kingdom with the award of Risk Management Service by Law Technology News and Online Product of the Year at the Legal Technology Awards.
According to Gartner, “E-mail is evolving in numerous ways: users are demanding more mobility options, provisioning models are tipping toward hosted services, lawyers and record managers are asking for clearer and more efficient retention services, security personnel want greater control over outbound content, architects are pushing for more centralized services, new vendors are entering the market, and users are struggling with e-mail overload.”1
“Mimecast’s growth is representative of both a shift in buying behaviour towards Software-as-a-Service applications and the value of a unified approach to solving the diverse problems of email management”, said Peter Bauer, Chief Executive Officer of Mimecast.
"Increasingly VAR's, our alliance partners and System Integrators are connecting their customers online to the Mimecast services. There has been widespread acceptance that SaaS is now a mainstream delivery model. The ergonomic efficiencies and recurring revenue model is extremely compelling for the IT industry and the channel."
1 Key Issues for E-Mail, 2009 by Matthew W. Cain; Published 30 January 2009
Mimecast delivers cloud-based email management for Microsoft Exchange, including archiving, continuity and security. By unifying disparate and fragmented email environments into one holistic solution that is always available from the cloud, Mimecast minimizes risk and reduces cost and complexity, while providing total end-to-end control of email. Founded in the United Kingdom in 2003, Mimecast serves approximately 4,000 customers worldwide and has offices in Europe, North America, Africa and the Channel Islands.
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