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Zuora, Inc.
Traded asNYSEZUO (Class A)
Russell 2000 Index component
IndustryEnterprise software
FoundersK.V. Rao
Cheng Zou
Tien Tzuo
HeadquartersSan Mateo, California
Key people
Tien Tzuo (CEO)
Marc Diouane (president)
Tyler Sloat (CFO)
RevenueIncrease US$167.9 million (2017)[1]
Increase -US$47.2 million (2017)[1]
Number of employees
850 (2018)[2]

Zuora is an enterprise software company that creates and provides software for businesses to launch and manage their subscription-based services. Zuora’s applications are designed to automate recurring billing, collections, quoting, revenue recognition, and subscription metrics.[3][4][5] Tien Tzuo, a founder of the company, has served as its CEO since 2007.[4]


Launch and IPO[edit]

In 2007, K.V. Rao and Cheng Zou (engineers at WebEx) and Tien Tzuo (an early executive at Salesforce) founded Zuora.[6][7] The name of the company derives from a combination of their three surnames. The concept behind the company was a cloud-based billings platform to alleviate the need for online businesses to develop their own billing systems.[7]

On March 16, 2018, the company filed for an initial public offering.[6][8] On April 12, 2018, Zuora listed in NYSE under the ticker symbol ZUO.[9][10] The company generated $154 million in the offering,[4] and entered the market as a public company at a $1.4 billion valuation.[11] By the end of April 2018 the company was valued at over $2 billion.[12]

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.[13][14][15]

Zuora hosts a conference series called Subscribed, covering topics related to the subscription economy and taking place in various cities each year.[16][17][18]


On May 20, 2015, Zuora acquired Frontleaf and launched Z-Insights, combining information from its subscriber invoicing and billing platform with customer usage information.[19] In 2017, Zuora purchased Leeyo Software, a revenue recognition platform.[20][21]


On December 17, 2007, Zuora announced it had raised $6 million in Series A funding.[22] Zuora announced $15 million in Series B funding on September 15, 2008;[23] $20 million in Series C funding in October 2010;[7] $36 million in Series D funding on November 4, 2011;[24] $50 million in Series E funding on September 5, 2013;[25] and $115 million in Series F funding on March 11, 2015,[26] bringing its total funding to $250 million.[27] Investors include Benchmark Capital, Greylock Partners, Redpoint Ventures, Index Ventures, Shasta Ventures, Vulcan Capital, and Next World Capital.[27] Private investors include founder and CEO of Salesforce Marc Benioff[28] and former PeopleSoft vice-chair and founder and co-CEO of Workday, Dave Duffield.[27]


Zuora sells a subscription management SaaS platform for businesses utilizing a subscription-service model.[1] The Zuora Central platform lets companies keep track of subscription payments, billing, collections, pricing, product catalogs, and accounting.[6][27][29] In addition to Zuora Central, Zuora's four primary SaaS applications are Zuora Billing, for recurring billing operations; Zuora RevPro, for revenue automation; Zuora CPQ, sales quoting for subscription businesses; and Zuora Collect, for payment collections.[30] Zuora's app marketplace, Zuora Connect, allows partners to develop and list apps built on the Zuora Central platform.[31]

On June 5, 2018, Zuora announced Subscription Order Management, designed to help customers process renewals and more complex deals. It addresses the shift from subscription growth related to acquiring new customers to growth from existing customers.[32]


  1. ^ a b c Ray, Tiernan (12 Apr 2018). "Zuora, Salesforce Alum, Is Latest Cloud Darling, Soars 48%". Barron's.
  2. ^ Shieh, Joseph (12 Apr 2018). "Zuora Shares Up 42% Following IPO". Silicon Valley Daily.
  3. ^ Taulli, Tom. "Zuora Raises $36 Million to Invade Europe". Forbes. Retrieved 15 December 2011.
  4. ^ a b c Farrell, Maureen (12 Apr 2018). "Tech IPO Market Shows Signs of Warming". Wall Street Journal.
  5. ^ Hagan, Shelly (12 Oct 2018). "Zuora CEO Lauds Lack of Innovation From Rivals Oracle, SAP". Bloomberg.com.
  6. ^ a b c Peterson, Becky (2018-03-16). "The $738 million 'subscription economy' company Zuora files to go public". Business Insider. Retrieved 2018-04-02.
  7. ^ a b c Rao, Leena. "Zuora's Journey To Managing The Subscription Economy". TechCrunch. Retrieved 9 November 2018.
  8. ^ Novet, Jordan (11 Apr 2018). "Zuora prices IPO at $14 per share — valuing the company at $1.44 billion". CNBC.
  9. ^ Salinas, Sara. "Zuora jumps nearly 43% on first day of trading". CNBC.
  10. ^ Nicas, Jack (15 Apr 2018). "Silicon Valley Venture Capitalists Prepare for an I.P.O. Wave". New York Times.
  11. ^ Bort, Julie (12 Apr 2018). "Zuora soars in its IPO, and the founder's stake is worth nearly $200 million — 5 years after the company hit rocky times". Business Insider.
  12. ^ Lin, Serena (30 Apr 2018). "CEO of billion-dollar Zuora reveals a key management lesson he learned the hard way". CNBC.
  13. ^ Feldman, Amy (15 Nov 2016). "New Subscription Economy Index Shows Subscription Businesses Growing 9X Faster Than S&P 500 Ones". Forbes.
  14. ^ Preimesberger, Chris (17 Nov 2017). "Zuora Research Shows Major Growth in 'Subscription Economy'". eWeek.
  15. ^ Richter, Georg (9 Feb 2018). "Think Tank: Why Established Retailers Will Continue Adopting Subscription Models". Women's Wear Daily.
  16. ^ Ray, Tiernan (1 Jun 2018). "Zuora Soars: CEO Tzuo on the 'Subscription Economy'". Barron's.
  17. ^ Grant, Nico (5 Jun 2018). "Tech Company Gives Conference Guests Stock as a Party Favor". Bloomberg.com.
  18. ^ Hagan, Shelly (12 Oct 2018). "Zuora CEO Lauds Lack of Innovation From Rivals Oracle, SAP". Bloomberg.com.
  19. ^ Clancy, Heather (26 May 2015). "Zuora analytics acquisition promises deeper insights for 'subscription economy'". Fortune.
  20. ^ Pozin, Ilya (28 Jan 2018). "20 of Marc Benioff's Best Startup Investments". Inc.
  21. ^ Miller, Ron. "Zuora to acquire Leeyo to help customers cope with upcoming accounting rules changes". TechCrunch. Retrieved 9 November 2018.
  22. ^ Olsen, Stefanie (2008-03-13). "Benchmark, Benioff invest $6.5 million in Zuora". CNET. Retrieved 23 March 2012.
  23. ^ Gage, Deborah (28 Oct 2008). "Zuora gets additional $15 million in VC cash". San Francisco Chronicle.
  24. ^ Sibley, Lisa (2011-11-16). "Zuora raises $36M from Silicon Valley backers". Business Journal. Retrieved 23 March 2012.
  25. ^ Zax, David (10 Jan 2014). "The Subscription Economy's Secret Weapon". Fast Company.
  26. ^ Kepes, Ben. "Zuora Raises $115M - Subscriptions To The World (And The Public Markets)". Forbes. Forbes. Retrieved 11 March 2015.
  27. ^ a b c d Gage, Deborah (11 Mar 2015). "Zuora Raises $115 Million to Fuel Subscription Economy". Wall Street Journal.
  28. ^ Hendrickson, Mark (2008-05-20). "Comment inShare Zuora Aims To Be Salesforce for Online Billing; Benioff Agrees". TechCrunch. Retrieved 23 March 2012.
  29. ^ Chartier, David (3 March 2009). "Zuora brings subscription payment lifeline for Facebook apps". Ars Technica. Retrieved 23 March 2012.
  30. ^ "Company Overview of Zuora, Inc". Bloomberg. Retrieved 9 November 2018.
  31. ^ Preimesberger, Chris (15 Mar 2017). "Zuora Adds 30 More Applications to Cloud Business Suite". eWeek.
  32. ^ Miller, Ron. "Zuora Orders aims to drive subscription renewals and expansion". TechCrunch. Retrieved 9 November 2018.