Current investors including Draper Fisher Jurvetson and Walden International also participated. SugarCRM said it would use the funds to continue its advancement into the enterprise market and to pursue strategic business opportunities. Judging from some comments from submissions for the Top 100 VARs list, more resellers will be coming onboard the Sugar train soon. The company says it has 370 channel partners. If I were Sage and had the problems that company is having in the CRM market, I'd make an offer for Sugar. If you can't beat 'em buy 'em.
Last modified on Sunday, 16 June 2013
SUGARCRM GETS $33 MILLION
SugarCRM, which has been making gains in the channel, now has $33 million more to continue on that track. The company said it has completed a round of equity and debt financing. The investment round was led by New Enterprise Associates (NEA) and includes participation from new investors Silicon Valley Bank and Gold Hill Capital.