SugarCRM’s third quarter was yet another strong one. The company added 650 new customer companies and continued to grow its momentum in the enterprise market. Annual recurring revenue growth sustained its pace, coming in at more than 45 percent year-over-year, and SugarCRM notched its 12th consecutive quarter of year-over-year billings growth, with a 23 percent increase in the third quarter of 2012.
“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,” said Larry Augustin, CEO of SugarCRM.
The company’s list of highlights for the quarter is a long one:
- 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 its 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). Q3 saw SugarCRM’s achieve a 75 percent increase in year-over-year growth in APAC, attributable to significant regional customer wins including one of Australia’s leading higher education institutions.
- Prominence Among Analysts. SugarCRM was named as a leader in The Forrester Wave™: CRM Suites for Midsize Organizations, Q3 2012 report by Forrester Research, published on July 10, 2012. The company saw the greatest upward traction of any CRM vendor with its position in the 2012 Gartner Magic Quadrant for Sales Force Automation.
- Global Partner Momentum. SugarCRM continued to add 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 it is 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 held in New York City. The 8th annual event will be held at the Waldorf Astoria, April 8-11, 2013, and the theme is “CRM for Everyone.” To register for the conference, click here.
- 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 business leaders looking for a next-generation CRM application, SugarCRM held CRM Acceleration events in Europe in Frankfurt, London and Paris as well as others markets. In Q4, CRM Acceleration events are planned for the Asia Pacific region. SugarCRM will also be participating at various industry events around the world. For the full list, click here.
- 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.