Sunday, March 6, 2016

SugarCRM Acquires Constastic To Boost Natural Language Processing In Sales Tools

CRM software firm SugarCRM has acquired Mountain View-based Contastic, a startup known for its natural language processing technology. Financial terms of the deal were not disclosed.

SugarCRM acquired the company to boost natural language processing in sales tools.   
Based in Mountain View, California, Constastic provides a predictive analytics technology that can be used by various sales teams to build relationships and create conversations with leads. It's platform automatically recommends the best content for individuals to send to their contacts.

Image credit: Richlode Solutions
"SugarCRM is making strategic investments in leading technologies to make Sugar an indispensable tool that helps customer-facing individuals be more successful," Larry Augustin, CEO of SugarCRM, said in a statement. "SugarCRM will use Contastic's NLP technology to analyze data within the Sugar platform so users can automatically send personalized content."

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.

The deal follows SugarCRM’s purchase of Stitch, a San Francisco-based personalized digital assistant. Stitch is a San Francisco-based startup co-founded by ex-Salesforce execs that created a mobile-first platform and iOS app for salespeople. 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.

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