CUPERTINO, Calif. – March 3, 2015 – SugarCRM Inc., the company that enables businesses to create extraordinary customer relationships with the most innovative and affordable CRM solution in the market, announced today it has closed a standout 2014. The year was marked by very strong domestic and global growth, continued success of the company’s enterprise strategy, business growth in key verticals worldwide, and partnerships with some of the world’s leading resellers. Together, these accomplishments position SugarCRM for continued success in 2015 and beyond.
Focus on Enterprise Market Drives Growth
“In 2014 we saw very strong market validation of our enterprise strategy, which continues to drive dramatic growth in domestic and international markets,” said Larry Augustin, SugarCRM CEO. “In the fourth quarter of 2014, we saw our average deal size grow by 97 percent over the fourth quarter of 2013, and for the year we achieved 55 percent year-over-year growth in annual recurring revenue in accounts greater than $100,000 a year.”
Key Enterprise Verticals Drive Global Success
SugarCRM continues to build its strong international presence, with 54 percent of annual recurring revenue (ARR) coming from outside the United States. Global success in several key verticals highlighted enterprise traction. Major SugarCRM customers in transportation and logistics include:
- CitySprint: The United Kingdom’s leading same-day courier and logistics service
- La Poste Courrier: A unit of Le Groupe La Poste, France’s leading employer after the French government, with 2013 revenue of €22 billion
- Nova Poshta: The Ukraine’s pioneer in express delivery with more than 1,000 branches
Manufacturing and industrials also highlighted 2014 enterprise traction globally with customers such as:
- HTC Taiwan: Global manufacturer of smartphones and tablets, including the Google Nexus 9, with 2013 revenue of more than NT$203 billion
- SMC: The global leader in pneumatic and electric automation equipment
- Bray International: Leading manufacturer of valves for the global flow control market, with operations in more than 40 countries
Financial services and insurance continued to grow globally in 2014 with new enterprise customers in that vertical, including:
- Mazars UK: One of Europe’s largest accounting firms and the eighth largest U.K. partnership by audit fees
- Seguros Monterrey New York Life: A leading provider of insurance and financial products in Mexico
Dramatic Business Acceleration in Latin America
SugarCRM’s business in Latin America led impressive growth outside the United States with 2014 ARR, up 79 percent over 2013. Joining SugarCRM to build the Latin American business in 2014 were Enrique Perezyera and Ali Hamid Yahya Karim. Prior to joining SugarCRM, Perezyera spent nearly nine years at Salesforce.com where he served as president of Latin America and Caribbean and built the regional office from scratch into a multi-hundred million-dollar business. Hamid held senior sales leadership roles prior to SugarCRM, including president and managing director, Mexico and Central America at SAP, and vice president Latin America at Siebel.
Global Alliances Extend Reach Into New Markets
SugarCRM forged a number of strategic alliances with new global partners in 2014, while realizing significant payoffs from existing partnerships. In October 2014, SugarCRM announced a partnership with T-Systems, whereby T-Systems deploys Sugar from its highly secure data centers and resells the cloud-based CRM solution and services to enterprise customers. This enables greater localization of data for security and data ownership issues arising in the Germany/Austria/Switzerland (DACH) region and in regulated industries.
SugarCRM enables businesses to create extraordinary customer relationships with the most innovative and affordable customer relationship management (CRM) solution on the market. By placing the individual at the center of its solution, SugarCRM is putting the “i” in CRM and empowering people at all levels of an organization to better understand and engage with customers. Based in Silicon Valley, SugarCRM is backed by Goldman Sachs, Draper Fisher Jurvetson, NEA and Walden International. More than 1.5M individuals in over 120 countries rely on SugarCRM. To learn more visit SugarCRM.com or follow @SugarCRM.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, SugarCRM performance, expectations, plans, prospects, and opportunities, including, but not limited to, our expectations regarding our products, market demand, and market share growth. These forward-looking statements are based upon the current expectations and beliefs of SugarCRM’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including, but not limited to: the level of demand for SugarCRM’s products, Sugar’s ability to move up market and execute on its enterprise strategy, SugarCRM’s ability to develop, deliver and support its products, Sugar’s ability to successfully expand its international operations, SugarCRM’s ability to develop and maintain successful strategic relationships with third parties, including technology partners, channel partners, and professional services partners and SugarCRM’s ability to attract, motivate and retain key employees. All forward-looking statements made in this press release are based on information available to us as of the date thereof, and SugarCRM disclaims any obligation to update these forward-looking statements.
NOTE: SugarCRM, and the SugarCRM logo are service marks of SugarCRM Inc. Third-party trademarks mentioned are the property of their respective owners.
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Last Update: March 2016