SugarCRM, the market-leading customer relationship management (CRM) company that enables effective customer engagement enterprise-wide, today announced that the company continued its growth in Q3 2012, securing 650 new customers around the world and gaining growing momentum in the enterprise market. The company achieved annual recurring revenue growth of more than 45 percent year-over-year and had its 12th consecutive quarter of year-over-year billings growth, with a 23 percent year-over-year increase in the third quarter of 2012.
“Our mid-market business continues to grow apace around the world, and we’re also making great strides in the enterprise space,” said Larry Augustin, CEO of SugarCRM. “As global demand increases for enterprise-wide CRM systems that equip all customer-facing professionals with the insight they need to drive deeper, more relevant customer engagement, SugarCRM is well positioned to carry on its global expansion.”
SugarCRM Q3 2012 Business Highlights
• New Customers Worldwide. The company grew its customer base by 22 percent over Q3 2011. New global customers include Natural Balance Pet Foods, Farber Financial Group and ImageWare Systems, Inc. in the U.S., CFAO TECHNOLOGIES in France, Institute of Technical Education in Singapore, and Taica in Japan.
• Enterprise Business Growth. During Q2 2012, SugarCRM announced a $33 million funding round to facilitate the company’s expansion into the enterprise business segment. In Q3, a major multinational technology and consulting corporation went live with its first 7,000 seats in a 69,000-seat implementation. In addition, SugarCRM closed a multi-million dollar deal with a healthcare sector customer in the UK.
• Strong Performance in Asia Pacific (APAC). SugarCRM’s business in the APAC region experienced strong performance in Q3 with a 75 percent increase in year-over-year growth. The growth is attributable to significant regional customer wins including one of Australia’s leading higher education institutions.
• Prominence Among Analysts. SugarCRM was positioned as a leader in The Forrester Wave™: CRM Suites for Midsize Organizations, Q3 2012 report by Forrester Research published by Forrester Research, Inc. on July 10, 2012. In addition, the company saw the greatest upward traction over any other CRM vendor with its position in the 2012 Gartner Magic Quadrant for Sales Force Automation.
• Global Partner Momentum. SugarCRM continued to onboard key channel partners to its thriving global partner program including Secure Technology Hawaii Inc. in the U.S., Necando in Canada, Atlantis Media in Germany, SugarMountain and NewServ in Switzerland, Conscious Solutions in the UK, ASI Informatique in France, Triscal in Brazil, ADOC Ldta in Colombia, and SYSTEM in MOTION in China. SugarCRM also brought on a new OEM partner in the U.S., ProTracker Software, Inc., that targets the financial services vertical.
• New Technology Integrations. SugarCRM ISV partner, Bunchball, announced in Q3 that they are planning to develop a new technology integration with SugarCRM that will enable out-of-the-box gamification of the SugarCRM suite. The integration is intended to help enterprises increase adoption of CRM across the organization by motivating employees to make SugarCRM a part of their daily workflow. Other ISVs that listed new integrations on SugarExchange, the SugarCRM marketplace, include Act-On Software, Alteva, Userlike, and Entrinsik.
• SugarCon 2013. The company announced that for the first time, SugarCRM’s user conference, SugarCon will be headed to New York City next year. The 8th annual event will be held at the Waldorf Astoria, April 8-11, 2013, and the theme is “CRM for Everyone.” Attendees will learn how to equip every professional across the enterprise with the relevant information they need to effectively collaborate and engage with customers.
• Open Social Foundation. SugarCRM extended its leadership position in the development of open and social business standards with Clint Oram, SugarCRM co-founder and CTO, being appointed to the Board of Directors of the Open Social Foundation. In addition, SugarCRM’s Community Manager John Mertic was appointed its Secretary.
• CRM Acceleration Tour. Drawing crowds that included hundreds of global businesses looking for next-generation CRM, the company’s CRM Acceleration events were held in Europe in Frankfurt, London and Paris as well as others markets. In Q4, the CRM Acceleration events are taking place in the Asia Pacific region. SugarCRM will also be participating at various industry events around the world.
• Extensive Industry Recognition. SugarCRM won a long list of industry awards in Q3 2013. The company was named an AlwaysOn Global 250 Winner. SugarCRM products were widely recognized as well, receiving four of CRM magazine’s 11th Annual CRM Market Leaders Awards, an InfoWorld Bossie Award, and a TMC’s 2011 Communications Solutions Product of the Year Award. Company executives were included in CRN’s Women in Channel Awards. For a full list of the company’s awards, please visit SugarCRM’s awards page.
SugarCRM (sugarcrm.com) democratizes customer engagement, empowering every professional who interacts with the customer to excel at their job. SugarCRM’s market leading open Customer Relationship Management (CRM) platform delivers the agility, flexibility, and security required to equip each customer facing professional with the relevant information and tools they need to effectively collaborate and engage with their customer, both within and beyond the enterprise. SugarCRM applications have been downloaded more than 11 million times and currently help over 1,000, 000 end users across disciplines effectively engage their customers. More than 6,000 paid subscription customers have chosen SugarCRM's On-Site and Cloud Computing services over proprietary alternatives. SugarCRM has been recognized for its customer success and product innovation by CRM Magazine, InfoWorld and Customer Interaction Solutions.