Email has transformed how we do business, but keeping track of all the messages sent internally and to clients is not easy for growing companies. Mimecast’s business is aimed at solving that problem, by offering a cloud computing network that enables companies to manage the data that passes through their email system. Rapid growth since its inception in 2003 means it now serves more than 7,000 customers worldwide.
Peter Bauer, CEO, says: "Our success is down to having a long-term plan, persistence in execution and good people. Cloud computing has given us a tailwind, but there have been plenty of headwinds too. Many cloud firms have come and gone, but it is playing the long-term game that helped us get to where we are today and secure our future.
"For the UK to boost its competitiveness, it should stop limiting the growth of young businesses by taking 40 per cent of the available payroll in tax"
Peter Bauer, CEO, Mimecast
"Our customers pay for our services on a subscription basis, so this has helped us predict cashflow. Focusing on the customer experience has led to a renewal rate of 97 per cent. We have also been helped by supportive investors, who gave us the means to keep driving growth while others were putting on the brakes.
"Our biggest challenge has been taking the business global; we are now in the UK, the US, South Africa and Australia. We expect to continue to expand and to double the size of our team and serve three times as many customers in five years’ time. And the technology itself will provide opportunities: as more of the world’s software moves to real cloud architecture, there will be some exciting new ways of working being born.
Rapid growth since its inception in 2003 means Mimecast now serves more than 7,000 customers worldwide
"For the UK to boost its competitiveness, it should stop limiting young businesses' growth by taking 40 per cent of the available payroll in tax. If we want long-term growth – and a greater tax return over time – we should not hit firms with a financial burden just as they start.
"My advice to entrepreneurs is to find a patient investor that will back you and give you the time you need to figure out the best business model that customers will support."
Region: Greater London
Sector: Information Services