Goldman Invests $40 Million in Salesforce Rival SugarCRM
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SugarCRM Inc., a maker of sales-tracking software, raised $40 million from Goldman Sachs Group Inc. to speed global expansion as it takes on larger rivals Oracle Corp. and Salesforce.com Inc.
The Cupertino, California-based company will use the cash to invest in research and development as well as sales and marketing, Chief Executive Officer Larry Augustin said in an interview. Sugar 7, the latest version of SugarCRM’s customer-relationship management software, will debut in October.