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Summary:

New investment from Goldman Sachs doubles funding for SugarCRM; Maybe someone should tell investors that open-source software is free.

Money - dollars
photo: Flickr / Tracy O

With $40 million in new funding from Wall Street power Goldman Sachs, SugarCRM nearly doubled the $41 million in funding it had in four VC rounds (plus $15 million or so in debt funding) since 2004, according to Crunchbase. 

Cupertino, Calif.-based SugarCRM offers a free open-source customer relationship management product as well as paid enterprise versions and support. It competes with CRM market leader Salesforce.com, Oracle and others in this market.

The new cash will be used to help the company boost its presence internationally. SugarCRM claims 15 consecutive quarters of growth, 6,500 business customers — with 600 added in the second quarter of 2013 alone. No word on actual revenue or profitability.

SugarCRM also gets a new director out of the deal with Antoine Munfa, a vice president at Goldman Sachs joining the board.

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  1. Perhaps I’m having a tough time parsing out sarcasm in the headline, but Red Hat?

    1. in the headline? or the deck? in the deck i was making a joke. I guess not a good one — the headline was just straight headline.

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