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SugarCRM says $15.1M filing is for ‘stock option grants,’ not funding

Updated at 1:00 p.m. PT with details from SugarCRM.

Popular customer relationship management service SugarCRM has disclosed $15.1 million in stock option grants given to employees over several years, according to a Form D filed today with the SEC.

Originally we believed it be a funding filing, but SugarCRM reached out to clarify that it was required to file this Form D as a disclosure for stock option grants.

“It is an administrative filing related to standard stock option grants previously made to our employees and directors from our stock option plan,” SugarCRM communications head Jay Mejia told VentureBeat.

SugarCRM offers a variety of cloud-based software and mobile apps for customer management and fostering leads for sales teams. Trying to compete with Salesforce and other CRM solutions, SugarCRM uses a freemium approach and gives away an open-source version of its software to more than 800,000 customers while it charges more than 200,000 customers for a version with more features. The company’s latest growth report said total revenue growth had increased by 60 percent from 2011 to 2012.

SugarCRM last raised $33 million in capital about a year ago from New Enterprise Associates, Silicon Valley Bank, and Gold Hill Capital. To date, the company has raised about $80 million in VC funding.

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