Mimecast closes Series C and nets $62 million

Insight Venture Partners has joined Dawn Capital to lead a Series C funding round into Mimecast.

The US market is being targeted by cloud email management business Mimecast after its third institutional funding round has seen it collect $62.15 million (£38.3 million).

The round is being led by private equity firm Insight Venture Partners and also includes existing backer Dawn Capital.

According to Mimecast, plans are now afoot to accelerate the development and deployment of new technology whilst also purusing ‘rapid expansion’ in the US market.

Founded by CEO Peter Bauer and CTO Neil Murray in 2003, UK-based Mimecast has previously closed a Series B round with Index Ventures and Dawn Capital worth $21 million in January 2010.

Mimecast has reported year-on-year revenue growth of 50 per cent in six of the last nine years, and counts 70 per cent of the UK’s ‘top’ 100 law firms as clients.

Jeff Lieberman, managing director at Insight Venture Partners, believes that email is the most important means of business communication.

He adds, ‘Better than anyone else, Mimecast delivers a true integrated solution for secure and accessible email.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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Series C funding