10.11.05
SugarCRM Raises Some Cash
I saw this bit on the alarm:clock that SugarCRM has raised $18.5M in Series C from some top name VCs. I wonder what they’re going to do with the money?
I had written a piece a while back about possibly trying out SugarCRM for my own personal use. I haven’t quite gotten there yet, I’ve had a lot of other stuff going on. SugarCRM is a big name in “open source commercial CRM” and I presume they are making money from support contracts (whether profitable or not, I don’t know).
I wonder what they need another 18 million for? Hopefully not to support their operating costs, as I think they are at a stage where they should be able to be at or close to break even, if not profitable. Are they looking to do an acquisition?
Obviously I don’t know. I just saw the news blurb and it interested me.
