Monday, March 9, 2015

SugarCRM Acquires Sales Productivity App Stitch

SugarCRM has acquired Stitch, a San Francisco-based personalized digital assistant
for salespeople. Financial details of the deal weren't disclosed.

This is a talent and technology acquisition and most of Stitch's team will be joining SugarCRM, cofounder Somrat Niyogi will join as an advisor and mobile engineering staff also will come along. SugarCRM will occupy Stitch's San Francisco office in addition to it s main office in Cupertino, California.

Launched in 2013, Stitch is a San Francisco-based startup co-founded by ex-Salesforce execs that created a mobile-first platform and iOS app for salespeople. Before the acquisition, Stitch has raised over $ 3 million in seed funding from notable firms like Google Ventures, Foundation Capital, Eniac Ventures, SoftTech VC, Freestyle Capital, SparkLabs Global and angels such as Brad Garlinghouse, Tom Conrad, and Eric Hahn

Using analytics technology, Stitch's app helps businesses sift through email and cloud-based documents to find useful information and help uncovered new sales opportunities.

Cupertino-based SugarCRM is a CRM company and an open source rival to Salesforce. It sells the web applications SugarCRM (a customer relationship management system) that is available in both open-source and commercial applications. Founded in 2004, SugarCRM employs around 400 people and has 350 partners on six continents. It operates a number or websites, including its commercial website, development website, and third-party extensions site SugarExtension.

Image Credit: Techcrunch

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