Reuters: Private Equity: Oracle competitor SugarCRM lands $33 mln in funds

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Oracle competitor SugarCRM lands $33 mln in funds Apr 4th 2012, 10:59 April 4 | Wed Apr 4, 2012 6:59am EDT April 4 (Reuters) - Customer-relationship software company SugarCRM completed a $33 million debt-and-equity financing round led by New Enterprise Associates. The company, which competes against more established players such as Oracle Corp and SAP AG, makes its open-source software available over the Internet. New investors Silicon Valley Bank [SIVBV.UL> and Gold Hill Capital joined SugarCRM's existing investors, including Draper Fisher Jurvetson and Walden International, in the round. New Enterprise partner Brooke Seawell has joined SugarCRM's board of directors. SugarCRM declined to state its revenue, but said billings grew 67 percent last year.

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