CUPERTINO, Calif. – June 8, 2016 - SugarCRM Inc., the company that enables businesses to create extraordinary customer relationships with the most empowering, adaptable and affordable CRM solution on the market, today announced the results of its first quarter of fiscal year 2017. Fresh off a record-breaking fourth quarter, SugarCRM continued to win business with large companies in Q1. Global brands in the automotive, manufacturing and publishing industries selected Sugar to help transform their customers’ experience.
“With Sugar you get the best of both worlds. CIOs appreciate not being locked into an inflexible cloud with no control or choice, while individual users get a modern CRM that helps them transform customer relationships,” said Larry Augustin, CEO of SugarCRM. “We won business against our competitors in Q1 because companies have recognized their CRM must be a flexible tool that gives employees the business answers and customer insights they need to succeed, without forcing a change in IT philosophy.”
First-Quarter Fiscal Year 2017 Financial Highlights and Company Momentum
SugarCRM’s growth was marked by demand for Sugar among businesses choosing CRM freedom with the flexibility to sync sales and marketing teams, seamless integration with other enterprise systems, customization capabilities to fit unique business processes, and a best-in-class mobile CRM offering. Notable financial highlights for the quarter include:
- 38 percent increase year-over-year in annual recurring revenue (ARR) from customers spending more than $100K per year on Sugar
- 68 percent increase year-over-year in new-customer ARR
- 94 percent increase year-over-year in average new deal size
- Number of seats per new customer up 219 percent year-over-year
Other Notable Highlights
- In April 2016, SugarCRM announced the addition of renowned software industry executive Rich Green as chief product officer. Rich leads SugarCRM’s engineering and product management teams, and is responsible for the product vision and implementation strategy of the Sugar platform.
- In April 2016, SugarCRM received a five-star rating in CRN’s 2016 Partner Program Guide. This annual award recognizes an elite subset of companies that offer solution providers the best partnering elements in their channel programs.
- In January 2016, SugarCRM acquired the intellectual property rights and other assets of Contastic, a natural language processing platform that is designed to automatically recommend the best content for individuals to send to their contacts.
For more information about SugarCRM please visit http://www.sugarcrm.com.
SugarCRM enables businesses to create extraordinary customer relationships with the most innovative, flexible and affordable customer relationship management (CRM) solution on the market. Unlike traditional CRM solutions that focus primarily on management reporting, Sugar empowers the individual, coordinating the actions of customer-facing employees and equipping them with the right information at the right time to transform the customer experience. Based in Silicon Valley, SugarCRM is backed by Goldman Sachs, Draper Fisher Jurvetson, NEA and Walden International. More than 1.5 million individuals in over 120 countries rely on SugarCRM. To learn more visit SugarCRM or follow @SugarCRM.
NOTE: SugarCRM and the SugarCRM logo are registered trademarks of SugarCRM Inc. Third-party trademarks mentioned are the property of their respective owners.
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Last Update: June 2016