SugarCRM announced a $33 million venture capital investment that will go toward winning enterprise business



SugarCRM is expected to discuss a significant upgrade to its open-source CRM (customer relationship management) software during the SugarCon event in San Francisco.

The show comes shortly after SugarCRM announced a $33 million venture capital investment that it intends to spend in pursuit of larger companies, rather than the small and midsized businesses that have dominated its customer base.

The company’s ambitions for enterprise-level deals should be placed in context, as SugarCRM defines an enterprise as any company with more than 1,000 employees and a decent percentage of workers who deal directly with customers. That approach means that at least for now, SugarCRM isn’t necessarily planning to go head-to-head with the likes of Salesforce.com or Oracle for the business of global companies with tens or hundreds of thousands of workers.

SugarCRM’s new capital investment also pales in contrast to the vast sums Salesforce.com has spent on marketing and sales during its steady march toward $3 billion in annual revenue.

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