**Exclusive:** Open source CRM platform developers Oro has closed a $12 million funding round from Highland Europe, which will be used to aid its global growth, including expansion in Europe.
The California-based company, which had been bootstrapped up until this point, will be using the investment to build out its products and sales and marketing teams internationally with Europe being a “highly strategic market”.
Oro currently has around 70 engineers working in Poland and Ukraine with this staff expected to reach 100 in the future while its EMEA sales and marketing team will be launched this year.
Oro develops the OroCRM for business and customer management and OroCommerce, a B2B e-commerce software platform with collaboration from open-source software developers. Since first launching in 2014, Oro’s products have been downloaded over 100,000 times, according to the company, with about 40,000 active installs and 18,000 enterprise users.
Tony Zappala, partner at Highland Europe will be joining Oro’s board of directors. “In the ever complex world of CRM, Oro have not only redefined the multichannel, but have emerged as a true market leader,” he said. “We are thrilled to work with the team and believe we are well placed to support Oro in achieving their ambitious international and product development objectives.”
“We are aggressively moving towards our objective of displacing expensive, inflexible and proprietary platforms to be the market leader in customer management and B2B e-Commerce applications,” added Oro CEO and co-founder Yoav Kutner.
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