Mimosa Raises $17M update from April 2007

SANTA CLARA, Calif. -- Mimosa Systems a leading provider of Live Content Archiving solutions today 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.