Cybersecurity provider's focus on the cloud and robust inorganic growth strategies help it ensure high customer retention rates and a wide market footprint
SANTA CLARA, California, Sept. 16, 2019 /PRNewswire/ -- áBased on its recent analysis of the global email security market, Frost & Sullivan presents Mimecast with the 2019 Global Growth Excellence Leadership Award for leveraging its brand recognition, channel partnerships, and technology partnerships to outpace the overall market. In 2017, its email security revenues grew to 40.8 percent, which was a 2.2 percent year-on-year gain in market share. This allowed the company to account for 10.8 percent of the market and be placed third on the leaderboard.
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"Mimecast's cyber resilience strategy for email is easy to manage; lowers costs; and is highly effective in preventing attacks, minimizing disruptions, and quickly recovering email and data in case of loss or malicious activities," ásaid Tony Massimini, Cybersecurity Senior Industry Analyst, Frost & Sullivan. "Through a single, cloud-based service, the Mimecast cyber resilience platform delivers threat protection, continuity, durability, and recoverability. In addition, it presents fully integrated, pure cloud services with support for various email services."
Mimecast has efficiently addressed the rapidly changing nature of the threat landscape. It simplifies the migration of email to the cloud and will continue to invest in cloud security and risk management services. It increased revenue from its existing customer base, achieving revenue retention rates of 110 percent and 111 percent in 2018 and 2017, respectively. It also offers security, continuity, training and archiving email services as bundles and in a modular fashion to attract new customers.
The company places special emphasis on widening its portfolio, adding information protection, and Web security through inorganic growth strategies. For instance, it recently acquired Solebit, which provides static file analysis as part of the Mimecast email attachment inspection funnel. Another recent win was the acquisition of Ataata, which expanded Mimecast's cybersecurity awareness training capabilities with engaging content, risk scoring, and real-world simulation attack scenarios. In 2017, Mimecast North America announced a partnership with Insight. The agreement will enable Insight to go-to-market with Mimecast's security, archiving, and continuity cloud services, further expanding the company's footprint in the market. Mimecast closely partners with cloud email services, specifically Microsoft Office 365 and Google G-suite, and meets customers' needs for complementary back-up services.
"To ensure high scalability, the company has 12 data centers worldwide that receive more than 65.9 terabytes of customer data each month," noted Massimini. "Overall, its continued product innovation, expanded portfolio, acquisitions, and focus on the cloud positions the company for sustained growth in the future."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. It recognizes the superiority of the product/service, as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and greater share of wallet. The award lauds the growth, diversification, and sustainability strategies of the company.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Mimecast is a cybersecurity and compliance provider that helps thousands of organizations worldwide make email safer, restore trust and strengthen cyber resilience. Mimecast's expanded cloud suite enables organizations to implement a comprehensive cyber resilience strategy. From email and web security, archive and data protection, to awareness training, uptime assurance and more, Mimecast helps organizations stand strong in the face of cyberattacks, compliance risk, human error and technical failure.
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Alison Raymond Walsh / Tim Hamilton