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How Twenty’s open-source CRM is changing the enterprise solutions market
Developer Twenty has raised US$5 million in a funding round. The company will use the investment to develop its open-source CRM product. The lead investors were Runa Capital, Front and Pipedrive. Top HubSpot executives also participated in the funding.
Startup Twenty is a young project founded by Felix Malfe, Charles Beauchet, and Thomas Colas de Franck. The team offers a feature-rich, open-source CRM that provides for regular product improvements. The developers plan to use the proceeds to expand their activities. The company focuses on attracting new corporate customers for whom CRM is becoming an indispensable business tool.
Product benefits
According to Felix Malfe, their solution compares favourably with analogues. Most solutions on the market limit companies to templates, which reduces their flexibility. However, companies need to differentiate themselves in order to remain competitive. CRM by Twenty means that it is possible to tailor the product to the unique needs of each company. The open-source code offers the possibility to add new features and adapt the system to specific conditions. This makes the solution as user-friendly and effective as possible for the company.
Open-source solutions are the perfect tool for scaling. In the case of Twenty’s CRM, companies can customise various features to:
- create and manage their own workflows;
- contribute their own data sources;
- utilise AI models;
- implement hybrid deployments.
And these capabilities aren’t just available for cloud infrastructure. The company is offering broad flexibility for software in large enterprise packages.
Twenty’s goal is to disrupt the incumbent market through an agile ecosystem. For a long time, packaged CRM solutions have dominated the market, but it’s time for a change. Open-source solutions provide companies with the flexibility that is often lacking in packaged software.
Lead investor Runa Capital is confident that Twenty has every chance of breaking into the market. The startup shows great potential and can become a worthy alternative to giants such as Salesforce.
Global market overview
The global CRM analytics market will grow at a CAGR of 12.8% over the next 5 years. The key drivers are increasing data volumes and expanding customer engagement efforts. The open-source CRM sector is likely to reach a value of US$6 billion by 2030.
Modern CRM solutions are becoming increasingly automated through artificial intelligence. Today’s software goes beyond structuring and storing data. It offers solutions to simplify transaction completion and effective follow-up.