SugarCRM Joins Hands With Goldman Sachs To Aid Its Growth In Asia And The International Market
26 Aug. 2013 Enterprise Tech News
SugarCRM has been successful in raising a $40 million dollars from Goldman Sachs for its growth in the Asian and international market.
SugarCRM has been getting a significant percentage of its business from the Asian market. It has, since 2004, raised $119 million, while it received $2 million first from Draper Fisher Jurvetson. The company, hence, raised $40 million from Goldman Sachs to aid its growth, especially in the Asian market.
SugarCRM presents itself as an open-source alternative to legacy giants of the market such as Salesforce.com. The company offers cloud services over its own cloud or on premise. Customers who do not want services on a shared infrastructure are also offered a privately hosted single tenant version by the company.
The company, just like its competitors, is also in a race to develop a social driven service, which includes compatibility with mobile devices as well. The latest version of its CRM platform – Sugar 7 will feature an embedded intelligence panel (dashlet) on the right screen pane. This will provide users real time customer or client information.
Sugar 7 also has integrated social streams along with an HTML5 platform, which will enable users to quickly filter, tag and share customer and deal activity in a single view. According to Larry Augustin, CEO, this service, which will be available generally in October, is testament to the company’s focus on building a system of engagement.
The international market, especially Asia which is witnessing an increasing emergence of mobiles as primary means of conducting business, is a promising market for SugarCRM. Larry Augustin said in an interview that the company will continue to focus and deepen its CRM platform.