SugarCRM raises another $19 million

Filed in archive on October 13, 2005

Wow another big cash infusion for the early adopter of Open Source CRM tools:

"The alarm:clock was first to report on the recent Series C funding of SugarCRM,
that brought $18.77M to this open source CRM software maker. According
to Thomson VentureXpert, NEA led the round with participation from
Walden International and initial investor Draper Fisher Jurvetson.
NEA's Scott Sandell has joined the board of directors.

Why am I writing about this ? Because this is one of the few
enterprise software companies I have been interested in tracking. The
company had raised their $5.75M Series B and their $2M Series A
respectively 10 and 15 months ago, and did not require a new cash
infusion -- based on its reported market success. By implementing a dual
license strategy, and leveraging the community to develop portions of
the product, and make available through 21 languages less than 18
months after launch (which is more than Salesforce.com after 8 years)."

Congrats!