Welcome!

Open Source Cloud Authors: Liz McMillan, Ben Uher, Jyoti Bansal, Carmen Gonzalez, Yeshim Deniz

News Feed Item

SugarCRM Marks Triumphant Decade of CRM Transformation

SugarCRM Inc., the company that enables businesses to create extraordinary customer relationships with the most innovative and affordable CRM solution in the market, closes Q2 2014 marking 19 consecutive quarters of growth and 10 years of business leadership in CRM. Guided by a strong vision to empower the individual, buoyed by the industry’s most innovative and affordable CRM solution in the market and an ever-growing global customer base, SugarCRM is well-positioned to further capitalize on the fastest-growing sector in enterprise software in the coming years.

2004: CRM Industry Gets a Taste of Sugar

Ten years ago, SugarCRM Co-Founder and CTO Clint Oram was determined to fix what he saw as a fatal flaw in conventional CRM solutions: Sales and support teams did not like using them and they were too expensive to put in the hands of every customer-facing employee. SugarCRM was founded to help solve these critical issues and has always fundamentally believed customer relationship management is more than marketing, sales force or customer support automation.

The CRM industry got its first taste of Sugar in July 2004 with the launch of SugarCRM's flagship product and a $2 million funding round. The company signed its first customers later that same year — several of which still remain as valued SugarCRM customers. Today, SugarCRM offers a completely revamped version of its flagship product, and is known industry-wide for putting the individual — the "i" — in CRM and empowering employees at all levels of a customer-centric organization to better understand and connect with customers over their entire lifecycle.

"SugarCRM’s 10-year anniversary is a very special and exciting milestone, and without a doubt it’s been a thrilling decade of transformation,” said Oram. “As co-founder, I helped turn a new idea into a fledgling company, and now to a thriving business that empowers an entire market. We are proud of building a world-class team, innovative technology and an impressive list of marquee customers that welcome our disruptive value proposition. As we begin another decade, we look forward to a deeper focus on helping sellers to sell and customer service representatives to deliver extraordinary customer service."

Accelerated Growth, Strong Collaboration in a Thriving Market

Today, SugarCRM places the individual customer at the center of its solution—enabling highly personalized customer interactions and valuable customer insights that drive customer excellence and retention. SugarCRM's new iCRM movement has indeed gained traction in the market and drawn industry acclaim as well as new customers and alliances. Undoubtedly, the past couple of years have been especially favorable for SugarCRM. In Q2 2014, the company marked 19 consecutive quarters of growth and reported a 30 percent annual increase in annual recurring revenue (ARR). In the first half of 2014 alone, SugarCRM signed a record total of more than 1,000 new customers, bringing its current total to nearly 7,500 —with more than 1.5 million end users worldwide. Companies such as Reebok, Sennheiser, Wilson Sporting Goods, Mitsubishi Motors Brazil and Seguros Monterrey New York Life rely on Sugar to deliver extraordinary customer relationships.

"Congratulations to SugarCRM on this special corporate milestone,” said Martin Ruiz, CIO, Seguros Monterrey New York Life. “I look forward to ongoing collaboration with the team as the company continues to innovate and bring new thinking to the CRM space.”

Market Traction Fuels Stellar Growth, Industry Recognition

Gartner predicts that CRM will represent the largest segment of enterprise software spend by 2017, growing to a $36.5 billion worldwide market. The investor community recognizes that SugarCRM will claim a sizeable part of this opportunity, thanks to its unique value proposition. Nearly a year ago, Goldman Sachs led a $40 million funding round for SugarCRM that closed in August 2013.

For two consecutive years, Gartner named SugarCRM a "Visionary" in its Magic Quadrant in both 2013 and 2014— a highly coveted position and ranking from a leading analyst research firm. This year, Ovum Research lent further credence to SugarCRM's mission by proclaiming 2014 the year that company leaders will finally embrace the need for a new CRM customer strategy that includes each customer-facing employee. On the awards front, SugarCRM was honored with the CRM Excellence award by Customer Magazine in May 2014, and the following month was named to AlwaysOn's 2014 OnDemand Top 100 list as one of the most promising private companies in the on-demand, cloud and SaaS categories.

"SugarCRM was one of the first front-office application providers to build its business on top of a commercial open source model - but what makes SugarCRM unique today is that it is one of the few providers focused only on core CRM,” said Paul Greenberg, president of the 56 Group and author of CRM at the Speed of Light. “In the past 10 years, Sugar has grown into a comprehensive and flexible CRM platform, one that focuses on personalization and usability for individual users in an innovative manner.”

SugarCRM and the Decade Ahead

All of the significant technology shifts — from social, cloud and mobile to big data — have converged to create the most exciting time in CRM's history. With a strong market forecasted by leading research firms and continued company growth, SugarCRM is well-positioned for a successful decade ahead. The company's primary focus remains rooted in empowering every customer-facing individual and every business to successfully manage their customer life cycle by providing high-value customer insights and helping them deliver extraordinary customer interactions.

"SugarCRM's successes over the past 10 years can be attributed to a relentless drive to realize the full potential of CRM," said Larry Augustin, SugarCRM CEO. "We are laser focused on delivering an innovative CRM solution designed for every individual, not just the management team. Today, we can truly say we are delivering on the promise of CRM, helping businesses acquire, manage and retain customers throughout every stage of their journey—and positioning SugarCRM to make an indelible mark on the highest growth market in enterprise software.”

About SugarCRM

SugarCRM enables businesses to create extraordinary customer relationships with the most innovative and affordable customer relationship management (CRM) solution on the market. By placing the individual at the center of its solution, SugarCRM is putting the “i” in CRM and empowering people at all levels of an organization to better understand and engage with customers. Based in Silicon Valley, SugarCRM is backed by Goldman Sachs, Draper Fisher Jurvetson, NEA, and Walden International. More than 1.5M individuals in 120 countries rely on SugarCRM. To learn more visit SugarCRM or follow @SugarCRM.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, prospects and financial results for SugarCRM, including, but not limited to, our expectations regarding our products, market demand, future revenue, and market share growth. These forward-looking statements are based upon the current expectations and beliefs of SugarCRM’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release are based on information available to us as of the date thereof, and SugarCRM disclaims any obligation to update these forward-looking statements.

NOTE: SugarCRM and the SugarCRM logo are service marks of SugarCRM Inc. Third-party trademarks mentioned are the property of their respective owners.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).