Wednesday, Apr 04 2012
News and Analysis
, 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.
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
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.