Accel-KKR invests in SugarCRM.
The goal of SugarCRM is to accelerate growth and expand the portfolio.
After SAP, Salesforce and Microsoft have invested massively in their CRM software in recent years, SugarCRM is now following suit. In Accel-KKR, the provider has found a leading technology-oriented investor and thus set the course for further global growth. Microsoft, Salesforce and other providers are likely to sit up and take notice. With the new financial resources, SugarCRM can expand its product and service portfolio and add functionality.
Substantial growth through organic and inorganic means
“The last few years have been characterized by significant growth, increased awareness in the market and high customer satisfaction. Now is the perfect time for us to work with an investor who is as excited and confident about the CRM software market and our approach as we are,” said Larry Augustin, CEO of SugarCRM. “This significant investment will enable substantial growth both organically and inorganically.” This statement (keyword: inorganic) makes it clear that strategic acquisitions are to be expected.
Jason Klein, Managing Director at Accel-KKR, adds: “With our extensive global network, we can introduce SugarCRM to potential customers and partners around the world. Our holistic approach to growth includes both direct and indirect sales, strategic consulting and operational expertise. This means that we add significant value to the companies we work with right from the start”.
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- For users, the partnership with Accel-KKR first of all brings investment security.
- Users can certainly count on product enhancements.
- On the other hand, SugarCRM has to prove to its new investor that it can use the additional financial resources sustainably.
- It is important to observe how much time or sales pressure increases without reducing quality. New partners have to be found, sales and implementation staff have to be trained and brought to a uniform level.
- SugarCRM will certainly work towards the displacement of other big players (Microsoft, Salesforce, SAP, Hubspot, Oracle). Whether this will be reflected in the license costs or the willingness to negotiate, we will observe.
Note: This is a machine translation. It is neither 100% complete nor 100% correct. We can therefore not guarantee the result.