Never heard of SugarCRM before? Well, get ready to have both them – and the Golden Oldie, “Sugar, Sugar” by the Archies – invade your space, the latter as nothing more than an earworm, but the former as a viable new (to you) solutions provider in the growing (and increasingly competitive) Cloud-based Customer Relationship Management (CRM) market.
Positioning itself as an alternative to Salesforce.com’s CRM solution, SugarCRM has launched an aggressive marketing campaign that is largely based on a social media push to targeted markets (i.e., practicing what they preach with respect to the integration of social media into their CRM products).
They have also just taken (i.e., yesterday) a $40 million equity investment from Goldman Sachs, amounting to half of the total that SugarCRM has raised to date (i.e., about $79 million since the company was founded in April 2004).
The company plans to use its new funding to expand its “global reach”, by increasing its global sales and support staff. According to Goldman Sachs, SugarCRM is “very well positioned” as a leading CRM player thanks to the rise of social media and mobile technologies.
SugarCRM presently has more than 6,500 customers, having added 600 to the fold in Q2 2013. The company has also experienced 15 consecutive quarters of growth, and some analysts believe that it is currently in the process of setting itself up for a 2013/2014 IPO.
Company CEO, Larry Augustin, has already communicated with me (and, probably, you) via Twitter and LinkedIn. In fact, he just tweeted me in response to my following him on Twitter (probably not a personal response – but a response nonetheless).
SugarCRM has successfully used the social media it employs in its CRM solutions to reach out to me, and make me more familiar with its brand. Watch your Twitter and LinkedIn feeds for similar messages. However, getting the word out is the first step; but, delivering the CRM solution that works for your organization is what really matters.
SugarCRM has been in the global CRM space since 2004, but is new to my space (and, probably, yours). However, they are sure to be more familiar to more and more services managers in the coming months, largely through their social media push.
And, with apologies to the Archies, all I can say at this point is, “Pour a little SugarCRM on me, Baby.”
Certainly a company worth watching.