SugarCRM takes $14.5M for CRM software

An online customer relationship management system notorious for taking its software open-source, SugarCRM has so far defied its early critics by continuing to attract new clients and investment.

The Cupertino, Calif. company is a competitor to web giant Salesforce.com.We also wrote about it way back in 2005.

The $14.5 million is part of a $20 million fourth round of funding, according to peHUB. Return investors Draper Fisher Jurvetson, New Enterprise Associates and Walden International participated in the round.

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