Zuora

Summary
Zuora, Inc., together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an orchestration engine that allows customers quote-to-revenue operations. Its products include Zuora Billing that helps customers to set payment terms, manage hierarchical billing relationships, consolidate invoicing across multiple subscriptions, and tax transactions; Zuora Revenue, a revenue recognition automation solution; Zuora CPQ for configuring deals, pricing, and quoting in a subscription business; Zuora Collect designed to/ handle the complicated function of payments associated with subscription-based businesses; and Zuora Marketplace. It sells its products through its direct sales force, systems integrators, management consulting firms, resellers, technology, and ecosystem partners. Zuora, Inc. was incorporated in 2006 and is headquartered in Redwood City, California.

History

Launch and IPO

In 2007, K.V. Rao and Cheng Zou and Tien Tzuo founded Zuora. The name of the company derives from a combination of their three surnames. The concept behind the company was a cloud-based billing platform to alleviate the need for online businesses to develop their own billing systems.On 16 March 2018, the company filed for an initial public offering. On 12 April 2018, Zuora listed in NYSE under the ticker symbol ZUO. The company generated $154 million in the offering, and entered the market as a public company at a $1.4 billion valuation. By the end of April 2018, the company was valued at over $2 billion.In 2016, Zuora launched the Subscription Economy Index, which tracks revenue growth of subscription businesses, comparing the growth to sales benchmarks. The index is based on data from hundreds of businesses on Zuora's platform. The index is updated twice a year.Zuora hosts a conference series called Subscribed, covering topics related to the subscription economy and taking place in various cities each year. The Subscribed Institute, a think tank for subscription-based companies, was founded by Amy Konary and launched in 2018.In 2019, Zuora hired former LogMeIn executive Chris Battles as its chief product officer, and former Adobe executive Robbie Traube as chief revenue officer. In June 2020, Zuora hired Todd McElhatton, formerly of SAP, as its new chief financial officer.Zuora won the 2016 SIIA CODiE Award for Best Company of the Year, the 2017 CODiE Award for Best Subscription Management Solution, and the 2020 CODiE Award for Best Subscription Billing Solution. Zuora received a 2020 Bronze Stevie Award for Customer Service.

Acquisitions and partnerships

On 20 May 2015, Zuora acquired Frontleaf and launched Z-Insights, combining information from its subscriber invoicing and billing platform with customer usage information. In 2017, Zuora purchased Leeyo Software, a revenue recognition platform.Zuora partners with companies including Deloitte, Accenture, and PwC. In 2020, Zuora announced an expanded integration with GoCardless, to help companies in North America, Europe, the UK, Australia, and New Zealand to process recurring payments faster and reduce payment-related costs.In August 2022, Zuora reached an agreement to acquire Zephr, a subscription experience platform, for $44 million in cash.

Funding

On 17 December 2007, Zuora announced it had raised $6 million in Series A funding. Zuora announced $15 million in Series B funding on 15 September 2008; $20 million in Series C funding in October 2010; $36 million in Series D funding on 4 November 2011; $50 million in Series E funding on 5 September 2013; and $115 million in Series F funding on 11 March 2015, bringing its total funding to $250 million. Investors include Benchmark Capital, Greylock Partners, Redpoint Ventures, Index Ventures, Shasta Ventures, Vulcan Capital, and Next World Capital. Private investors include founder and CEO of Salesforce Marc Benioff and former PeopleSoft vice-chair and founder and co-CEO of Workday, Dave Duffield.


Mission
Zuora is a SaaS company and the world’s foremost evangelist of the Subscription Economy. Zuora’s leading subscription management platform helps enable businesses in any industry to launch or shift products to subscription, implement new pay-as-you-go pricing and packaging models, gain new insights into subscriber behavior, open new revenue streams, and disrupt market segments to gain competitive advantage. Zuora serves more than 800 companies around the world in every industry, including Box, Komatsu, Rogers, Schneider Electric, Toshiba, Xplornet and Zendesk. The Subscription Economy Index (SEI) demonstrates that SEI companies are growing revenues approximately nine times faster than the S&P 500. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo.

Vision
We are in the midst of a once-in-a-century shift in business models. People are choosing outcomes over ownership. They want value, services–they want to subscribe. The world is shifting to subscriptions. And it’s having a major impact on consumers and businesses alike.

Key Team

Mr. Sridhar N. Srinivasan (Chief Product & Engineering Officer)

Mr. K. V. Rao (Founder)

Ms. Daisy Hernandez (Chief Strategy & Operations Officer)

Mr. Paul Heard (Chief Information Officer)

Luana Wolk (VP & Head of Investor Relations)

Mr. Andrew M. Cohen (Chief Legal Officer & Corp. Sec.)

Mr. Kyle Christensen (Chief Marketing Officer)


Recognition and Awards
Zuora has won various awards and recognitions, including being named a leader in Gartner’s Magic Quadrant for Cloud Financial Management Applications, as well as being named a leader in IDC MarketScape: Worldwide SaaS and Cloud-Enabled Subscription Management Applications.

References
Zuora
Leadership team

Mr. Tien Tzuo (Co-Founder, Chairman & CEO)

Mr. Robert J. E. Traube (Pres & Chief Revenue Officer)

Mr. Todd E. McElhatton (Chief Financial Officer)

Products/ Services
Billing, Developer APIs, Payments, SaaS, Software
Number of Employees
1,000 - 20,000
Headquarters
San Mateo, California, United States
Established
2007
Company Registration
SEC CIK number: 0001423774
Revenue
100M - 500M
Traded as
ZUO
Social Media
Fri Mar 01 2024
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