Zuora

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Zuora is an enterprise software company that designs and sells SaaS applications for companies with a subscription business model. Zuora’s applications are designed to automate billing, commerce, and finance operations.[1] Headquartered at 1051 E Hillsdale Blvd., in Foster City, California, Zuora has approximately 250 employees in 5 countries. Tien Tzuo, a co-founder of the company, has served as its CEO since 2007.

History[edit]

In 2007, after several years at WebEx & salesforce.com,[2] K.V. Rao, Cheng Zou and Tien Tzuo founded Zuora. The name of the company derives from a combination of their three surnames.

On December 17, 2007, Zuora announced it had raised $6 million in Series A funding with Benchmark serving as a major investor.[3]

On September 15, 2008 Zuora announced it had raised $15 million in Series B funding, led by Shasta Ventures and Lehman Brothers (now Tenaya Capital).[4]

In October 2010, Zuora raised an additional $25 million in Series C funding, with Redpoint Ventures coming on board as an investor.[5]

On November 4, 2011, Zuora announced it had raised $36 million in Series D funding, led by Index Ventures.[6]

On September 5, 2013, Zuora announced it had raised $50 million in Series E funding. All existing major investors participated in the round in addition to three new investors including Next World Capital, Vulcan Capital and Northgate Capital. Abhishek Agrawal of Vulcan Capital and Craig Hanson of Next World Capital also joined the board of directors.

Other notable private investors include Founder and CEO of Salesforce.com Marc Benioff[7] and Former PeopleSoft Vice-Chair and Founder and Co-CEO of Workday, Dave Duffield.[8]

Products[edit]

Zuora sells a billing, commerce, and finance SaaS platform with multiple modules available for businesses utilizing a subscription-service model.

Zuora's Billing Product Line is a set of applications designed for subscription businesses. Zuora’s platform keeps track of subscription payments, invoices, pricing, product catalogs, and taxation. Customers of Zuora select several SaaS applications for their specific billing needs. These include “Z-Billing,"[9] “Z-Payments,” and “Z-Tax.”

Zuora's Commerce Product Line is a set of applications designed for businesses hoping to sell products in a subscription business.[10] This includes an application called “Z-Payments Page” taking subscription orders on a company’s website in a PCI compliant manner.[11] One of Zuora’s most popular Commerce Line products is a “business-to-business” native Force.com application called Z-Force.[12] The application allows sales reps to create subscription orders in Salesforce.com and it also allows Salesforce users to view subscription-related data in SalesForce.

Zuora's Subscription Finance Product Line is a set of applications designed to manage the complexity of accounting and revenue recognition operations for subscription businesses. It allows businesses to summarize their subscription transactions and create journal entries for their accounting close processes in any General Ledger system. It also helps businesses manage revenue recognition, with codes and triggers that control how subscription revenue should be recognized for each subscription charge over time.[13]

References[edit]

  1. ^ Taulli, Tom. "Zuora Raises $36 Million to Invade Europe". Forbes. Retrieved 15 December 2011. 
  2. ^ "Salesforce.com Chief Marketing Officer Tien Tzuo Named CMO of The Year Finalist". Salesforce.com. Retrieved 23 March 2012. 
  3. ^ Olsen, Stefanie (2008-03-13). "Benchmark, Benioff invest $6.5 million in Zuora". CNET. Retrieved 23 March 2012. 
  4. ^ "Zuora Closes $15 Million in Series B Funding". Zuora, Inc. Retrieved 23 March 2012. 
  5. ^ "Zuora Raises $20 Million in Series C Funding Led by Redpoint Ventures". Zuora, Inc. Retrieved 23 March 2012. 
  6. ^ Sibley, Lisa (2011-11-16). "Zuora raises $36M from Silicon Valley backers". Business Journal. Retrieved 23 March 2012. 
  7. ^ Hendrickson, Mark (2008-05-20). "Comment inShare Zuora Aims To Be Salesforce for Online Billing; Benioff Agrees". TechCrunch. Retrieved 23 March 2012. 
  8. ^ "Zuora Raises $36 Million from Index Ventures, Greylock Partners and Dave Duffield". Yahoo! News. Retrieved 23 March 2012. 
  9. ^ Howlett, Dennis (2008-07-22). "Zuora: the future business model?". ZDNet. Retrieved 23 March 2012. 
  10. ^ Chartier, David (03/01/2009). "Zuora brings subscription payment lifeline for Facebook apps". Ars Technica. Retrieved 23 March 2012. 
  11. ^ "Zuora Adds Four Leading Payment Gateways to Z-Payments, Delivering the World's Most Complete Subscription Payments Platform". Martetwire. Retrieved 23 March 2012. 
  12. ^ "Zuora Introduces Z-Force, A New Product Built on the Force.com Platform from Salesforce.com". Zuora. Retrieved 23 March 2012. 
  13. ^ "How It Works: Subscription Finance". Zuora, Inc. Retrieved 23 March 2012.