SugarCRM Continues Record Customer and Revenue Growth in Third Quarter
Fueled by Enormous Demand for Sugar 6 - CRM Made Simple - Company Grows Revenue 60 Percent in the Period as Global Expansion and Growth Continues
CUPERTINO, Calif.-October 14, 2010-SugarCRM, the world's fastest growing customer relationship management (CRM) company, today announced it achieved record growth in customer and revenue momentum in the third quarter 2010, highlighted by a 60 percent increase in revenue. The record quarter was sparked by overwhelming demand for Sugar 6 - CRM made simple - in addition to continued growth of SugarCRM's global business channel.
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"The continued momentum we are seeing around the world is a testament to the fact that businesses of all types are demanding more flexible, intuitive and open solutions," said Larry Augustin, chief executive officer of SugarCRM. "Businesses are smarter than ever, and understand the value of open solutions delivered through a trusted source."
New Customers Expand Global Presence
SugarCRM added more than 675 customers in the third quarter, spanning multiple geographies and industries. These include organizations such as AsureQuality, C3/CustomerContactChannels, Nurago GmbH, RealtyTech, Ticketscript BV, The March Group, and Nantes Métropole Développement.
"We chose SugarCRM On-Demand because we wanted to focus on our customers, not IT server hardware and complex software programming," said Perry Sheraw, senior vice president at The March Group. "SugarCRM also integrates well with other current and anticipated applications, which eliminates the need to create highly customized, difficult-to-support integrations on our own. All of this, along with the flexibility, low cost and the simple-yet-powerful user experience made SugarCRM an obvious choice."
New Offerings Fuel Growth
The record quarter was highlighted by the release of Sugar 6, a milestone release for SugarCRM. Sugar 6 is winning rave reviews from customers and technology observers for its industry-leading user experience, social CRM capabilities and user-friendly customization and personalization tools.
In addition, SugarCRM also announced the availability of Sugar Platform Edition for original equipment manufacturer (OEM) partners. Sugar Platform Edition extends SugarCRM's reach into new markets, led by industry-leading independent software vendors who will embed Sugar functionality into various technology offerings to a wide user base.
Channel Partner Success
SugarCRM continues to see impressive growth thanks to its unparalleled channel partner network. SugarCRM channel partners accounted for more than 60 percent of total company billings in the quarter. The company also added 44 new partners, including Boost, Cambridge Partners, GFI Informatica, LxPN, Millenium Soft, Petre Software, Remote Link, SMILE Open Source Solutions, and Ultima Bilgi Teknolojileri A.
"It's exciting to be part of the SugarCRM team, which understands the ever-changing needs of its end users," said Cliff Parrish, chief executive officer of RemoteLink. "With offices in the United States and Asia, we accommodate not only special business cases but cultural differences as well. SugarCRM allows us to fulfill high expectations with complete flexibility at an attractive price point to our customers."
SugarCRM makes CRM Simple. As the world's leading provider of open source customer relationship management (CRM) software, SugarCRM applications have been downloaded more than seven million times and currently serve over 600,000 end users in 80 languages. Over 6,000 customers have chosen SugarCRM's On-Site and Cloud Computing services over proprietary alternatives. SugarCRM has been recognized for its customer success and product innovation by CRM Magazine, InfoWorld, Customer Interaction Solutions and Intelligent Enterprise.
Schwartz Communications for SugarCRM
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