California-based customer relationship management (CRM) solutions provider SugarCRM has acquired the email integration products of Singapore-based startup Collabspot Pte Ltd, according to an announcement.
Launched in 2012, Collabspot integrates CRM systems with email providers like Google and Microsoft, synchronizing emails, contacts and calendars.
“This acquisition represents a significant tech step forward as we look to further integrate business productivity suites and CRM, two of the biggest communication data sources for businesses,” said Craig Charlton, CEO of SugarCRM.
Collabspot has previously been backed by individual investors Louis Naugès and Kevin Dewalt and Singapore-based early-stage venture capital firm 8 Capita. Born out of Singapore incubator JFDI Accelerator programme, it had raised $64,000 in seed investment in 2014.
The acquisition follows SugarCRM’s launch of Hint Insights, a tool that pushes relevant signals and alerts to users via multiple channels.
In February, the company appointed Charlton to lead its next stage of growth through a strategy of acquisition, an expanded product portfolio and organic growth.
Last year, SugarCRM raised a strategic and significant investment from US-headquartered technology-focused private equity firm Accel-KKR.