The business says it has experience 15 consecutive quarters of growth thanks to its product, which aims to make customer-facing professionals into customer experts.
It said that it added more than 600 new customers in the second quarter of 2013.
The business said Goldman vice president Antoine Munfa would be joining the company’s board of directors following the investment.
He said, “The CRM market is ripe for technologies and products that change the face of how enterprises conduct business with their customers.
“SugarCRM, with its user-centric vision and product design, has stepped up to meet a real market need.
“As social and mobile continue to become a defining force in business, we believe SugarCRM is very well positioned as a leading enterprise CRM player.”
Goldman Sachs Private Capital Investing provides preferred equity and mezzanine capital to growth and mid-market companies based in North America.
The firm invests between $20m and $150m of equity per transaction as common, preferred and structured equity.
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