Mimecast lists on NASDAQ
Mimecast, one of the businesses supported by funding through the British Business Bank’s Enterprise Capital Funds programme, listed on NASDAQ yesterday.
The company received £3m funding from British Business Bank partner Dawn Capital in 2008 – a difficult time for the economy during which such early-stage investment was hard to come by. The investment helped them to expand internationally, most importantly in the US, to further develop the core platform and to add a number of new products.
The 7.75 million-share IPO was priced at $10, making the company’s total share value $540m.