Mimecast secures £13 million

Email management company Mimecast has received £13 million in a Series B funding round from two venture capital firms.

The UK-based business received the funding from existing backer Dawn Capital and new investor Index Ventures. It will use the cash for research and development and to build its market presence.

Norman Fiore, a partner at Dawn Capital, says, ‘As a mid-size fund, [we realised] over time that Mimecast’s dramatic growth would require us to look externally to fully exploit the market opportunity.’

Bernard Dalle, a partner at Index Ventures, will join Mimecast’s board.

Mimecast was founded in 2003 by CEO Peter Bauer and CTO Neil Murray. Bauer says the global economic downturn has benefited providers of software-as-a-service.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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