Mimecast plans US expansion with $62m funding

Having secured $62m worth of funding cloud email management specialist Mimecast has outlined plans to plough the funds into R&D and US expansion

Cloud email management specialist Mimecast is planning on becoming a bigger name on the other side of the Atlantic after securing a further $62m in venture capital backing.

Insight Venture Partners along with Dawn Capital were the main sources for the injection of funds and as well as using the money to spur on R&D Mimecast also has its eyes on rapid expansion in the US market.

The UK firm will celebrate its tenth anniversary next year and has been delivering decent annual growth as well as securing a dominant position supplying the legal market.

Some of the money will be spent devising software-as-a-service mail options that will build on the unified email management products that have come out in recent years.

Peter Bauer, CEO and co-founder of Mimecast, said that the the demands on email were changing and it needed to invest in developing tools for the future.

“We are working to make email more collaborative and more interactive to realise the true value of the vast amount of unstructured data in email stores. We believe that the future is a more interactive archiving model, where IT folk and end users alike can derive more value in real time, on a day-to-day basis on any technology platform they choose to use," he said.

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