The UK-based Mimecast is a public company and vendor in the email security space. Mimecast is a downloadable software program to meet organizations’ needs to protect against security breaches, data breaches, and email-based attacks.
Mimecast: Company background
In 2003, Peter Bauer and Neil Murray founded Mimecast Limited in London with the mission: “Making Email Safer for Business.”
Through the years, Mimecast has specialized in email security with products such as secure gateways, threat protection, secure messaging, information archiving, and mailbox continuity. For security standards, Mimecast’s products are accredited as SOC 2 Type II / ISAE 3000, HIPAA-compliant, ISO 27018, and hold SEC17a-4 attestation.
Growth, Acquisitions, and Financials
The company filed for an IPO on NASDAQ and officially went public under the ticker symbol MIME in November 2015. Since 2016, Mimecast improved its offering by acquiring seven companies, including Ataata, Solebit, DMARC Analyzer, Segasec, and MessageControl.
According to SEC filings, Mimecast earned total revenues of $340 million in 2019 and $427 million in 2020, growing nearly 30% in a single year. Since going public, the company’s grown at a linear rate and holds a market capitalization of $3.82 billion.
The Current State of Mimecast
In 2021, Mimecast serves more than 36,000 customers worldwide, with a combined 337 billion emails managed. Mimecast’s priorities include serving channel partners with technologies like email communication, storage, and management. The Mimecast Partner Program offers resellers and partners opportunities to managed service providers (MSP). Mimecast currently has over a dozen global offices across four continents and 1,700 employees.
Want to learn more about the channel and value-added resellers? Check out this eWeek interview with Dell’s Global Channel Chief, Rola Dagher.
Mimecast products and solutions
While Mimecast’s most popular product is Email Security and Targeted Threat Protection, other plans that aid in defending the modern network include:
- Awareness Training
- Cybergraph AI Cybersecurity
- DMARC Analyzer
- Mailbox Continuity
- Threat Remediation
Mimecast solutions are built to integrate with popular cloud email platforms Office 365, Outlook Exchange, and Google Suite. As a cloud-based platform, Mimecast offers inexpensive, scalable coverage for SMB to large enterprises.
- Barracuda Networks
- Microsoft 365
Breach scare in 2021
In January 2021, Mimecast disclosed the sophisticated threat actors responsible for the SolarWinds breach also abused Mimecast’s access certificates. In all, 10% of Mimecast’s Office 365 accounts were at risk of compromise. Clients were asked to immediately re-establish a new digital certificate to avoid further illegitimate access by hackers. Working with FireEye’s Mandiant team, further analysis showed hackers downloaded source code repositories, but not enough to build and run the Mimecast service.