SugarCRM Inc., the company that enables businesses to create extraordinary customer relationships with the most innovative and affordable CRM solution in the market, today announced the major accomplishments that characterized SugarCRM's success in 2013. Last year was clearly defined by the company’s strong growth and revenues, a major re-architect and launch of the most recent release of Sugar, a record funding round, industry recognition from leading analysts and experts, product wins and impressive worldwide momentum.
Additionally, SugarCRM rebranded the company with its “iCRM” campaign — putting the individual at the center of its latest solution and declaring 2014 “The Year of the Individual.” Poised for accelerated growth in 2014 and showcasing a strong vision for the future, SugarCRM is driving a new era in CRM and business optimization and is setting the stage for the decade ahead.
Unprecedented Customer Growth, Worldwide Momentum
SugarCRM enjoyed tremendous success in 2013, fueled by the addition of more than 2,500 new customers while expanding existing deployments from more than 2,500 customers, including:
The company achieved more than 75 percent year-over-year revenue growth with 17 quarters of consecutive growth. In addition, SugarCRM continues its global expansion, seeing strong growth in Europe and making key inroads in Asia Pacific.
“We believe CRM tools targeted for the individual are helping SugarCRM re-define the customer experience and drive a new, critical level of business transformation for companies of all sizes,” said Larry Augustin, CEO of SugarCRM. “The global market opportunity for CRM is significant, and we will drive worldwide deployment for small to mid-sized businesses as we help their employees throughout the organization engage and connect deeper with customers. Advanced CRM tools that uniquely facilitate these extraordinary customer connections will help businesses gain a strong competitive edge. We expect 2014 to be a another pivotal year — where we truly begin to realize the full global potential of CRM and enter a brand new era."
According to Gartner Research, CRM will represent the largest segment of enterprise software by 2017— eclipsing even ERP and analytics — increasing to a $36.5B worldwide market. With global demand soaring for more affordable, personalized and innovative CRM systems, SugarCRM is poised for strong momentum as it enters 2014 — which marks its 10-year anniversary. The Goldman Sachs & Co.'s $40 million funding round (announced in August) will help SugarCRM strategically invest and meet the increased global demand. The funds will be used to expand SugarCRM's worldwide reach, expand channel growth in key worldwide regions and support future product development.
In 2013, new executive firepower also contributed to SugarCRM's momentum. Glenn Cross joined the company as executive vice president of worldwide field operations. With his strategic sales vision and leadership, Cross directs the company’s sales, services and support organizations and is responsible for all customer-facing initiatives. Henning Ogberg, SugarCRM's senior vice president of EMEA, is responsible for the company’s overall growth strategy in Europe and sales channel development in core overseas markets, including Germany, Switzerland, the United Kingdom, France and Italy.
iCRM, Latest Release of Sugar Drive Paradigm Shift and CRM Resurgence
SugarCRM entered 2014 with analyst assertions that the CRM market is preparing for a major industry-wide shift. Ovum Research recently proclaimed 2014 as the year company leaders will pay attention to the need for a new CRM customer strategy that includes each customer-facing employee.
By creating a unique user experience (Sugar UX™) and pricing structure (Sugar PurePrice™), SugarCRM is re-defining CRM with the individual in mind, empowering all customer-facing employees to create extraordinary customer relationships. Indeed, the new release is in sharp contrast to traditional CRM platforms, which are largely focused on salesforce management, tracking and reporting. While these legacy platforms have grown the 20-year-old market to $20 billion with 20 million users, SugarCRM plans to further extend CRM's appeal and access across an entire organization at a more affordable price point — propelling the market to reach its full potential.
Awards, Industry Recognition Underscore Company's Thought Leadership
With such innovation and focus on helping organizations realize the promise of CRM, SugarCRM garnered several awards and analyst nods over the last year. In April, SugarCRM was presented with a Gold Stevie® award in the "Relationship Management Solution — New Version" category. The company also landed in CRN's Partner Program Guide with a 5-Star Partner Program rating. The following month, AlwaysOn honored SugarCRM as an OnDemand 100 winner. Combined, this industry recognition serves as a testament to SugarCRM's technology innovation, strong global operations and potential for market disruption.