SaaS leader Mimecast sees record customer acquisition and revenue growth

LONDON, March 5, 2009 – 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, helped by the addition of nearly 1,000 new customers in the preceding 12 months. The average number of users per customer also jumped significantly allowing the company to add nearly 200,000 new users in the 12 months to Dec 31st 2008.

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."

Founded in 2002, Mimecast delivers a holistic approach for managing the risk and complexity of the email management environment with a single platform cloud solution for archiving, continuity and security of corporate communication and data. Built on a technology architecture specifically designed for SaaS, Mimecast Unified Email Management makes email more useful and productive, removes the fragmented stacks of point solutions, delivers enterprise-grade software services and empties server rooms to facilitate green IT environments.

1. Key Issues for E-Mail, 2009 by Matthew W. Cain; Published 30 January 2009