SugarCRM Reports Strong Customer, Channel, and Technology Partner Growth in Second Quarter 2012
CUPERTINO, Calif., Aug 16, 2012 (BUSINESS WIRE) -- SugarCRM, the world's fastest-growing customer relationship management (CRM) company, today announced its 11th consecutive quarter of year-over-year billings growth, reporting a 36% year-over-year increase in the second quarter of 2012. Total billings for the first half of 2012 were up 73% over total billings for the first half of 2011. Total subscription seats were up 120% over Q2 of 2011.
To stay in step with the company's worldwide growth, SugarCRM has nearly doubled its employee headcount year-over-year to over 300 employees and opened new offices in Cambridge, UK and Raleigh, NC and expanded its offices in Cupertino, California and Munich, Germany.
"Our open business model has enabled us to achieve continuous growth year-over-year. In Q2, we achieved the 11th consecutive quarter of year-over-year billings growth, the 13th consecutive quarter of subscription seats growth, and expanded our global customer base, adding over 700 new customers to the SugarCRM family," said Larry Augustin, SugarCRM's chief executive officer. "As an increased number of companies are looking for CRM solutions that enable their users to effectively connect with their customers, SugarCRM is well-positioned to continue its solid growth. In particular, we are seeing strong interest from midmarket customers who are finding value in SugarCRM over other costly alternatives."
Sugar CRM Q2 2012 Business Highlights
-- New Customers. The company added over 700 new customers around the world, including GNW - Evergreen Insurance Services, Inc., Paragon Commercial Bank, Pittsburgh Post-Gazette, and Zurple in the U.S., Keyscan, Inc. in Canada, Marathon Sports in Ecuador, BRI Ferrier in Australia, and Loylty Rewardz Management Pvt Ltd and Media.net in India.
-- Launched Sugar 6.5. SugarCRM announced the GA version of its flagship product, Sugar 6.5, which introduced an enhanced user experience focused on enabling the end user, a new search framework with integrated full-text search, as well as deeper integration with third party applications. For more details on Sugar 6.5, please see the product announcement.
-- Hosted Global User Group SugarCon 2012. SugarCRM held its annual customer, user, and partner conference in San Francisco, CA, in April 2012, and achieved another company record by drawing over 1,000 attendees. To accommodate the growing demand for the conference, SugarCon 2013 will be held in New York City at the Waldorf Astoria, April 7-13.
-- Signed Distribution Agreement with Ingram Micro. SugarCRM signed a new distribution agreement with Ingram Micro, the world's largest IT distributor. The agreement will allow channel partners who are part of Ingram Micro's Advanced Computing Division to sell and distribute SugarCRM's product suite in North America.
-- Expanded Channel Partner Program. SugarCRM made new enhancements to its award-winning SugarCRM Open+ Partner Program to include new business planning and support to help partners drive more revenue, the formation of a partner advisory board, and a partner certification program. New worldwide partners that joined SugarCRM's channel in Q2 included SETHOS Solutions, TIMETOACT GROUP, Calligo, Seric Systems Ltd., RT Labs Private Limited, Ticomix, Our CRM Coaching and Development, IT Logix India Private Limited, Communication Business Avenue, Inc., Open Stream, Inc. and SkyTel Argentina & Paraguay.
-- Grew OEM Ecosystem. During Q2 2012, SugarCRM welcomed four new OEM partners worldwide who are committed to growing their businesses with the Sugar platform. These partners are taking SugarCRM deeper into vertical markets including insurance, telecommunications, marketing, and financial services. New OEM partner wins include eBaoTech in China, Alestra in Mexico, Access Group in the UK, and The List in the U.S.
-- Grew ISV Ecosystem. One of the key drivers of SugarCRM's success is its large and thriving developer and technology partner ecosystem. A dozen SugarCRM technology partners announced new integrations during SugarCon: BitRock Inc., Colosa, Inc., EasyAsk, engajer, Inc., Faye Business Systems Group, inBOX25, Lucid Imagination, NextPrinciples Inc., SierraCRM, Inc, Transverse, UserVoice, and Vocalocity. Also, see SugarCRM's Q1 momentum announcement that references these partner integrations.
-- Completed New Funding Round. SugarCRM announced a new $33M round of funding that closed in Q2 to continue its advancement into the enterprise market and to pursue strategic business opportunities.
-- Achieved Industry Recognition. SugarCRM was named Capterra's CRM Madness Tournament Champion and a 2012 CRM Excellence Award Winner by Customer Interaction Solutions magazine. In addition, Larry Augustin was named a finalist in the Ernst & Young Entrepreneur Of The Year(R) 2012 program in the Northern California region.
Source : Marketwatch