Note – for co-founder Clint Oram’s take on our awesome year in 2010 – read below this post.
One of the great things about being with a company for more than half of its existence – you get to experience the growth in such a profound way. When I first came to SugarCRM, we were an upstart company with a vision – and making bets that people wanted to make the open choice for their CRM and their IT future in general.
Man, has it paid off. We closed 2010 with another record year in terms of billings, and the company has proven that a business model dedicated to providing open, flexible solutions can be a winner – as the company turned cash flow positive in the year.
Below are the details of the great year – grabbed from a press announcement we released today. I am happiest about the amazing customer momentum – the 50%+ billings growth is just icing on the cake. Really, our amazing community of developers, customers and partners makes this success happen every day – we couldn’t do it without you – THANK YOU.
The company increased total billings 56 percent in the quarter versus the year ago quarter, and saw a 13 percent growth in total billings versus the third quarter of 2010. For the fiscal year, billings increased 52 percent compared to fiscal 2009. In addition, the company turned cash flow positive in 2010, capping off a milestone year of growth in all areas.
“Simply put, 2010 was an amazing year for SugarCRM and its partners,” said Larry Augustin, chief executive officer of SugarCRM. “Our record growth is clear proof that organizations of all shapes and sizes are tired of proprietary, restrictive CRM solutions and are now demanding flexible, intuitive and open solutions delivered via a trusted source.”
Partner Momentum Fuels Growth
SugarCRM’s record growth is due in large part to its expansive channel sales network. In 2010, SugarCRM added more than 100 new channel and consulting partners, including leading firms like AmziQSource, Bezier, BTM Solutions, Capgemini, CRM International, CRMADDON Factory, OpusVL, and Walpole.
In addition, SugarCRM Gold Partner Levementum delivered more than $1 million in annual billings to SugarCRM in 2010. “Our success with Sugar is a true partnership. Working together globally, SugarCRM and Levementum provide powerful, flexible, open solutions for our customers,” said Doug Guilbeau, managing director at Levementum. “Levementum and SugarCRM are dedicated to helping customers successfully implement both traditional and inventive approaches to relationship management.”
Continued Customer Momentum
SugarCRM’s impressive growth in 2010 was highlighted by continued record adoption of Sugar solutions by leading companies around the world. SugarCRM added nearly 600 customers in the fourth quarter, and more than 2,200 new customers in 2010. These new customer wins include engagements with leading organizations like All-Guard Alarm Systems, Inc.; BioExpress; Brugg Kabel AG; DotLoop; Douglas Pharmaceuticals Ltd.; GEEP (Global Electric Electronic Processing); Griffin Chapman; GSH Group; Mintec Inc.; Monarch HealthCare; Solara Medical Supplies; Verticality; and Wanger Investment Management, Inc.
“We chose SugarCRM because it is a great tool to allow our company to collaborate and share information worldwide,” said Bev Brisebois, SugarCRM administrator at GEEP Global. “From an IT perspective, SugarCRM is not only easy to manage but also easy to customize. Sugar provides numerous resources for assisting and training users and provides convenience by offering a mobile version for those travelling employees. Sugar 6 is a simple and seamless transition from any CRM.”
Sugar 6 Makes CRM Simple
The company’s record 2010 was highlighted by the release of Sugar 6, a milestone release for SugarCRM. Sugar 6 is winning rave reviews from customers and technology observers for its industry-leading user experience, social CRM capabilities and user-friendly customization and personalization tools.
In addition, SugarCRM also expanded its leadership position in mobile CRM with the release of Sugar Mobile for iPhone. The first of a series of native applications for mobile devices, Sugar Mobile raises the bar for user experience, ease of use and robust features in a mobile CRM offering.