Mimecast Services for Exchange v1.0 Wins Veracode Security Mark

January 27, 2010

Mimecast Services for Exchange v1.0 is the first cloud service to receive the VerAfied security mark. Independent and rigorous testing by Veracode, provider of cloud-based application risk management services platform, demonstrates Mimecast has taken due care in developing a secure software platform and evaluates vulnerabilities against industry standards such as the OWASP Top 10 and SANS-CWE Top 25.

Mimecast’s service removes the complexities and risks of business email management by providing a single cloud-based service as an alternative to on-premise archiving, continuity and security. The service integrates with on-premise email servers, and specifically Microsoft Exchange, to reduce server loads, automates mailbox size management and takes advantage of comprehensive Exchange-specific and user-defined information, such as folder structure and message metadata to deliver greater benefits to email users.

The VerAfied security mark is a quality indicator for the security level of applications and software components. Mimecast selected Veracode for its independent and completely transparent assessment service and due to it being based on industry-accepted standards.

Matt Moynahan, CEO from Veracode comments, “Modern cloud-based platforms provide tight integration with traditional on-premise software to provide seamless access to advanced services. Customers are looking for independent proof that cloud-based vendors such as Mimecast rigorously test software that is deployed against industry-standard benchmarks. Mimecast is the first hybrid cloud service to be awarded the VerAfied rating and this provides a differentiator for Mimecast and echoes their commitment to an important customer concern - the security and integrity of email and data."

Tim Pickard, Chief Marketing Officer at Mimecast comments, “As trusted custodians of confidential email and data of businesses, it’s fundamental we review every element of our physical and software security practices.” Adding, “The VerAfied security mark is a quality indicator for the security level of applications and software components. Mimecast Services for Exchange is the key framework which provides seamless integration between Microsoft Exchange and Mimecast, therefore ensuring it is tested and evaluated for vulnerabilities by Veracode is an integral part of our overall security practices.”

Mimecast Services for Exchange (MSE) - a Windows Service installed on Microsoft Exchange server acts as a bridge and a scheduler for the chosen MSE services such as Folder Replication, Message Stubbing and Folder Based Retention. MSE is controlled by and communicates directly with Mimecast’s Web Services interface to provide two-way integration between Microsoft Exchange server and the Mimecast service.

Separately, Mimecast has received £13 million (USD $21 million) in Series B financing from venture capital firms Index Ventures and Dawn Capital. Mimecast plans to use the funding to increase research and development initiatives and continue to build its market presence.

By removing the need for several different in-house solutions and extending the life and value of existing Microsoft Exchange and Microsoft Outlook platforms, Mimecast minimizes risk and complexity to provide end-to-end control of email at a significantly reduced cost. Consequently, Mimecast’s business has proved robust during the recession, the company having experienced triple digit revenue growth in each of the last 3 financial years.

Mimecast supports a global base approaching 2,500 customers across a number of industries including financial services, legal, manufacturing and the public sector and has offices in Europe, North America, Africa, the Middle East and the Channel Islands.

Mimecast CEO and co-founder, Peter Bauer, said: “The global economic downturn has brought the savings we deliver to our customers into sharp focus. SaaS has become mainstream and our proven ability to deliver a reliable service with very short implementation cycles puts Mimecast in an ideal position to help thousands more companies realise the benefits that cloud computing can bring. This new funding will help us build market leadership further.”

Index Ventures partner, Bernard Dalle, who will be joining the Mimecast board, said: “Thousands of customers have chosen to move away from a cocktail of on-premise software applications for Mimecast's unique integrated service platform. We have been very impressed by the company's market traction, continued growth rate and the dedication of the team."

Norman Fiore, partner at Dawn Capital and an existing board member of Mimecast, commented: “As a midsize fund, it became clear over time that Mimecast’s dramatic growth would require us to look externally to fully exploit the market opportunity. We are particularly delighted to welcome Index Ventures whose strong track record in helping European companies succeed in the US makes them the ideal growth partner for Mimecast’s outstanding team.”