Goldman Sachs ponies up $40M to fund SugarCRM

Money - dollars

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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