This sector is seriously overheated, and this latest is an entirely predictable offering, coming as it is from former Siebel and Oracle executives. There are many competitors, from large incumbents to extremely cheap upstarts, from SugarCrm to TigerCRM — some even being sold off because they can’t find users.
The company has partnered with Salesforce.com, using that company’s on-demand platform in exchange for a fee — which is a good way to get distribution.
The company did not disclose the exact amount, saying only it between $3 million and $6 million, and comes from private investors, including Craig Ramsey, a former Siebel and Oracle exec, Mark Armenante, a former PharmaSystems exec, and Young Sohn, founder of Nomadic Systems, according to VentureWire.
It aims to offer CRM software to specific industries.