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Mimecast continues rapid growth with 50% revenue increase

(February 13, 2012)
DMN Newswire--2012-2-13--

Leading cloud-based email specialist secures millionth user, and is set to close this record fiscal year with $50m in recurring revenue, and 5,000 customers

Mimecast®, the leading supplier of cloud-based email archivingcontinuity and security for Microsoft Exchange and Office 365, has today announced record revenues for the nine months to December 31st 2011, up almost 50 percent on the previous year. With revenues up to $36 m (£22m) for the nine months ended December 31, 2011, Mimecast expects to achieve approximately $50m (£31m) in revenues for the fiscal year ended March 31st 2012.

This rise in revenue has been matched by a rapidly growing user base. During the first nine months of the fiscal year, the company added 260,000 new users worldwide, passing the one million user milestone in July 2011. Growth overseas continues to be strong, with 100,000 of those new users based in the USA. The company is also growing its global customer base, and expects to sign its 5,000th customer in the last quarter of this fiscal year.

Mimecast continues to innovate, and recently launched its iPhone app, allowing customers to search and access their entire email archive from their mobile device. In the UK, Mimecast now counts over 65% of the top 100 law firms as customers, as well as 42% of the country's top 50 accountancy firms. Other notable customers include ITN, LoveFilm and Snow & Rock Group.  Mimecast has also continued to grow its partner community, signing deals with Polymorph Limited, Content and Code and Parative Limited.

Peter Bauer, Mimecast's CEO and co-founder, commented: "Our sector is seeing a great deal of consolidation, and there will no doubt be more over the coming year. With the increasing commoditisation of technologies such as anti-spam and anti-virus, offering standalone cloud services is no longer enough. IT decision makers are increasingly looking for cloud vendors who can solve multiple problems with cost effective, integrated solutions, as well as providing high levels of customer support. Mimecast's continued success shows that we're getting these things right, and as we move into our next fiscal year, we're readying the most exciting product roadmap in our history. 2012 will be a year of innovation."

Mimecast's recent successes have also been recognised in a number of awards. The company was named Security Vendor of the Year at the 2011 CRN Channel Awards, and came 16th in the Sunday Times Tech Track 100, sponsored by Microsoft. Mimecast was also ranked 7th in the 2011 Deloitte Technology Fast 50, the second consecutive year that the company has been included in the top ten

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Related Keywords:Mimecast, revenue increase, rapid growth, email archiving, Microsoft Exchange

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