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04/04/2007

Mimosa Systems Raises $17 Million in Series C Financing

 

Mimosa Systems, a leading provider of Live Content Archiving solutions recently announced that it has closed $17 million in Series C financing. The funding led by Mayfield Fund with participation from current investors Clearstone Venture Partners, August Capital and JAFCO Ventures will be used to enhance sales and marketing activities to grow market share for the company's next-generation email and document archiving solution Mimosa NearPoint.

Mimosa's information management solutions are delivering real value for customers and partners across North America, Europe, and Asia Pacific. Mimosa NearPoint addresses critical customer requirements around email archiving, eDiscovery, regulatory compliance, data protection, and storage optimization.

“Mimosa is a rising star in the multi-billion dollar, white-hot live content archiving market for unstructured and semi- structured information management, a critical need that is being fueled by eDiscovery and regulatory compliance,” said Navin Chaddha, managing director, Mayfield Fund. “With significant customer momentum and an experienced management team, Mimosa is poised to lead the email archiving market. We look forward to leveraging our global network of resources to propel Mimosa's worldwide growth.”

“Email archiving is becoming a must-have for organizations of all sizes across all vertical segments,” said Arun Taneja, founder and consulting analyst, The Taneja Group. “Mimosa's next-generation technology distinguishes them from other companies in this market space, especially in terms of its architecture, scalability, and ease-of-deployment. With the company's recent international expansion, we expect organizations worldwide to show the same need for email and document archiving, thus replicating their success in North America.”

“Mayfield's participation in this financing round is a strong testament to the significant market opportunity Mimosa has in building a leadership position in addressing the challenges of accessibility, discovery, and continuity associated with the explosion of new content types,” said T.M. Ravi, president and CEO at Mimosa. “Mayfield is one of the nation's top venture capital firms and Navin's wealth of industry and company building experience will benefit us immensely.”

Mimosa Systems, Inc. delivers next-generation information management solutions for information immediacy, discovery and continuity. Mimosa NearPoint™ for Microsoft� Exchange Server is the industry's most comprehensive information management software solution for Microsoft Exchange, unifying email archiving, recovery and storage optimization. NearPoint assures email continuity and regulatory compliance, while leveraging cost-effective disk technologies to optimize email storage growth. Mimosa is a Microsoft Gold Certified Partner recognized for its competencies in Networking Infrastructure Solutions, ISV Software Solutions, and Information Worker. Mimosa is a privately held company whose investors include August Capital, Clearstone Venture Partners, Dot Edu Ventures, JAFCO Ventures and Mayfield Fund. Mimosa was founded in 2003 and is based in Santa Clara, California and Pune, India.

For more information see www.MimosaSystems.com