Enterprise Software - Wednesday, October 3, 2007
Salesforce Puts The Squeeze On SugarCRM With $25M Fund
For all of the good fortune and publicity that Salesforce.com's open source nemesis SugarCRM has won, it can't be easy. Its hard to compete against Salesforce on features. We can see that developers might be drawn to working with SugarCRM because its open source. But Salesforce is making that a costly decision with the launch of a $25M VC fund. The fund, created with Bay Partners and Bessemer Venture Partners, will make investments of $500K or more in start-up companies using Salesforce's platform. Given that SugarCRM raised $18.77M in its last round a $25M fund to draw away potential partners must be daunting.
Read - CIO
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