By Steve Brooks
As the summer reaches its peak in the northern hemisphere software vendors seems to be hot amongst investors.
Both SugarCRM and iCIMS are about to receive further investment from private equity sources to help with their growth. Neither firm revealed the size of the investment but both are looking to use these new funds for growth.
Accel-KKR invests in SugarCRM
This is the second announcement this week that sees Accel-KKR take a stake in a CRM company. One of its other investments, Kerridge Commercial Systems, announced the acquisition of EDP earlier this week, including its CRM product, Vecta.
The investment, according to the release, is “significant” and a “substantial investment”. The money will be used to “drive product innovation, services, expanded capabilities and a strategic acquisition program”.
Vista Equity Partners invest in iCIMS
iCIMS also announced that Vista Equity partners (Vista) is looking to make an investment in the company. The size of the investment was not announced but the board make up seems unlikely to change substantially. Colin Day will continue as CEO and a board member. Susquehanna invested $35 million in 2012 and a further $56.7 million in 2015 (Source Crunchbase). It continues to have a representative on the board and retain a share in the company.
Read More:
https://www.enterprisetimes.co.uk/2018/08/16/crm-and-talent-acquisition-proves-hot-for-investors/
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