NEA Leads $33M Round In CRM Developer And Salesforce Competitor SugarCRM

SugarCRM, a provider of commercial open source CRM software, has completed a $33 million equity and debt financing round. We're told around $14 million of the round was equity financing. The investment round was led by New Enterprise Associates and includes participation from new investors Silicon Valley Bank and Gold Hill Capital as well as the company's current investors Draper Fisher Jurvetson and Walden International. To date, SugarCRM has raised over $60 million in equity funding. While Salesforce tends to grab the most attention as the cloud-based CRM company, SugarCRM has quietly built a loyal, and growing userbase around its customer relationship management platform for sales teams. SugarCRM applications have been downloaded more than ten million times and currently serve over 1 million users from over 6,000 companies in 192 countries.

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