Google is paying $625 million for Postini, producing a monster exit for the company’s venture backers, who put about $26 million into the email security company over five rounds. It is a particularly welcome exit for Mobius, which up to now has had too few hits to get LPs excited enough to back another fund. Is the Postini sale big enough to get the Mobius folks to reconsider winding down — or Gary Rieschel to consider coming back from China?
Ryan McIntyre, a principal at Mobius, has sat on Postini’s board since 2001.
(Gotta wonder how many offers McIntyre’s going to get now.) (Update: Ryan and several other Mobius refugees, including Brad Feld, have since started their own shop, called Foundry Group, in Boulder, Colo.)
Postini’s other VC backers were AltoTech Ventures, August Capital Management, Bessemer Venture Partners, Pacifica Fund, Summit Accelerator Fund and Sun Microsystems.
August, Sun and Summit funded Postini’s $6 million Series A in February 2001. (That round had a post-money valuation of $21 million, according to Thomson Financial.)
Mobius got in on the $10 million Series B in October 2001 and was the sole backer of a $94,000 Series D in July 2005 and a $356,000 Series E in September 2006.