Selligent raises 6 million euros in third round of funding

Third round capital investment from 3i, Innovacom, Dassault Developpement and Technicom are set to fuel European expansion at Selligent, the European CRM (customer relationship management) software firm. Alexander Banz from 3i said, “The CRM market is undergoing a shake-out and we believe Selligent is in a particularly good position to conquer a much greater market share. We believe the new Selligent Xi technology is impressive and is the right foundation for Selligent’s success in the coming years, as well as the company’s profitability.” The firm clearly believes research that suggests that the CRM market will grow in Europe between 30 and 40% over the next five years. Selligent itself has recorded growth of more than 60% a year in the last three years and 40% growth during the first half of 2001. Says André Lejeune, CEO of Selligent: “According to industry analysts, educated buyers are tending to turn to easily and rapidly deployable CRM solutions. This puts Selligent in a very strong position when compared to less flexible CRM solutions that offer plenty of hype and ROI promises that can’t be verified at anytime in the near future.”