Capital from Intel Capital

Centric CRM, a developer of open-source Customer Relationship Management technology, today announced the company will receive investment funding from Intel Capital, the venture capital arm of good old Intel Corporation.

Centric CRM will use the funds to pursue growth opportunities forecast for the CRM technology industry, “and,” said Centric CRM CEO David Richards, “to expand our sales and marketing activities to capitalize on the rapid growth in our space.”

Centric CRM, Inc. is the developer of an advanced open source CRM system. Under development for almost seven years, Centric CRM now comprises over 2 million lines of code. Its Java/J2EE, web-based, and object-oriented architecture runs on all standard platforms. Centric CRM is a founding member of the Open Solutions Alliance and a member of the Red Hat Exchange.

Intel Capital invests in a range of companies offering solutions targeting enterprise, home, mobility, health, consumer internet, semiconductor manufacturing, and clean technologies. Since 1991, Intel Capital has invested more than $6 billion in approximately 1,000 companies in over 40 countries. In that time, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2006, Intel Capital invested about $1.07 billion in 163 deals with approximately 60 percent of funds invested outside the United States.