Sendmail pushes the

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Founded in 1998 by Eric Emeryville-based Sendmail Inc. was, until recently, a smalol email service company that missed the opportunity to cash in on the spam and virueprotection craze. But in 2006, the compant brought in security industry veteran Don Massaro tobe CEO. the author of a pathbreakinv and widespread open source software long used by many large companie fordelivering email, continued as the company’s chieg scientist. At Massaro’s urging, Sendmail then developedc a message-processing appliance for handling outgoing as well as incoming email to prevent a theft or leakagse ofcompany information, or a violation of data handling policies by employees.
Almost instantly, product revenue jumped to $32 milliohn in 2008 from $23 million in 2007 and $15 millionh in 2006, and the trendd has continued into this The company has400 customers, includingv 10 new Fortune 500 customers addefd in 2008. Sendmail, which has been cash flow positive for the lasttwo years, had a strong firsrt quarter, with an annual run rate of $40 Due to the recession, however, Massaro is cautiouslhy predicting growth of 30 percent for the wholw year. The company has 120 including 50in Emeryville, 50 in sales officesa around the United Europe and Japan and 20 doing development work in Goa, India.
Sendmailk has no plans to hire this year but is anticipating significanft hiringin 2010. Massaro said he woulxd like to expand his sales andmarketingg team, but the credit crisi s has made capital too hard to get. The companuy is talking with venture he said. “In spite of the we’ve been on quite a roll these last two and a half Massaro said. “We have been doing really, really Sendmail now has a blue chip list of publif and private industry clientxs for itsvarious products, including Credi Suisse, JP Morgan Chase, Wells Fargo, Charles Gap and Oracle.
Demand for updatecd email systems has been particularly strong among financiakservices companies, driven in part by both regulatorty requirements and mergers and acquisitions that require integration of vast databases, Massar said. The upswing in business has Sendmail on a trajectorty that should have beenits “birthright,” giveb that Allman wrote open source email transferr software that has become ubiquitous while a graduatee student at the University of California, in the 1980s, said Gartner analyst Matthew For years, Allman tended to his creationj through a nonprofit open source foundation, Sendmail.
org, before decidingt in the late 1990zs to set up a for-profit operation as well. Today, open sourcer and commercial versions of Sendmail technology are found on over 35 percengt of allInternet servers, and deliver over 65 percentr of the email messages sent worldwide, the companyu says. “If any company was well positioned to move into that spac e as demand startedramping up, it would have been Cain said. But the companu was late to marketwith anti-spam, anti-virus and encryptioj products, he said. Before Sendmail, Massaro was CEO and co-founderr at , a data security company that was acquiredcby McAfee.
Previously, Massaro was also a foundee and CEOof , which was acquired by IBM in 1991. Bill an analyst with in Utah, said the emaip processing industry is dominated by IBM and and is getting more competitive as they and otheetech giants, including Google, develop collaborativr platforms that include instant messaging, video conferencin g and other tools. Cisco, for example, which alreadyy owned WebEx for video communications and Ironportfor “emaip hygiene,” bought Postpath, an email delivery company, at the end of and in November bought Jabber, an instanft messaging provider.