Mimosa Systems Date:   Monday , November 03, 2008 The explosive volume of electronic information, coupled with the requirement to retain email records for regulatory compliance and legal discovery, has created a hot market for email active-archiving solutions. The Mimosa NearPointTM solution is the only integrated offering for archival, eDiscovery, DR, and storage management that can economically scale to meet the demands of today's enterprise. Founded in 2003, Mimosa Systems is a provider of next-generation archiving solutions and is in a vertical trajectory growth mode that has allowed it to expand beyond the US to the UK, France, Germany, China, Australia, Japan and Canada. The company has raised $51.5 million total from Clearstone Venture Partners, August Capital, JAFCO Ventures, Mayfield Fund and Focus Ventures. Mimosa is betting on a sizeable market, which Radicati Group estimates will grow to $7.8 billion by 2010. Mimosa is also seeing strong traction in the eDiscovery market which is growing at 24 percent. With 250 employees and 650 customers in healthcare, government and financial services, Mimosa has a healthy share of the market and is growing faster than its competitors. "The key driver of Mimosa's growth is the explosion of content and the need for electronic information such as email and documents to be retained as a business record," says T.M. Ravi, CEO, Mimosa. Mimosa has global partnerships and offers a comprehensive SDK that allows customers, partners and developers to extend NearPoint's capabilities to a broader set of content sources including content on backup tapes, and access archived content from enterprise applications such as eDiscovery, records and security management, CRM and business intelligence solutions. "With the explosion of user-driven information and the increasing demands of legal discovery, corporate governance is now being applied across the enterprise, driving the need for archiving and eDiscovery," said Laura DuBois, research director, Storage Software, at IDC.