Subscription Economy reaches a tipping point as large enterprises
across multiple industries sign multi-million dollar deals with Zuora
Zuora expands global leadership team to support
the rapidly growing Subscription Economy opportunity
Redwood City, CA – August 29, 2012
- Zuora, the subscription commerce and billing leader, today announced a new global conference series for companies joining the massive shift to the Subscription Economy. The inaugural Subscribed 2012 events will be held from September through November in San Francisco, London and Sydney.
- Subscribed 2012 addresses the rapid growth Zuora is seeing worldwide for its subscription management solutions, which far outpaces the industry status quo. In its fiscal year Q2, which ended July 31, Zuora reported dramatic growth across customers, including closing six deals valued at over $1 million, 2x year-over-year growth in customers and reaching over $10 billion in contracted subscription revenue in its install base.
- As a result of this growth, Zuora continued its global investment and expanded its leadership team to address the momentum and scale of the Subscription Economy and customer demand for Zuora’s subscription commerce and billing solutions.
Subscribed 2012: Uncovering the Future of the Subscription Economy
- Subscribed 2012 is the first global conference series designed specifically for the Subscription Economy.
- The Subscribed 2012 events are the go-to event for any subscription business or any organization contemplating the shift to the Subscription Economy. Each event will feature keynotes and breakouts on subscription commerce best practices, business process and revenue growth strategies, and tips on how to use subscription metrics to drive better business decisions.
- The dates are:
- San Francisco: September 17
- London: October 4
- Sydney: November 15
- Dozens of Zuora customers are confirmed to discuss their transformation to the Subscription Economy including HP, BranchOut, Lytx, Box, Reed Business Information, Xplornet Communications and more.
- The registration for each of the events is nearing capacity. For more information on the agenda and activities and to register for Subscribed 2012, visit www.subscribed.com.
Zuora Paces the Subscription Economy Revolution
- In Q2, Zuora reported a record Q2 with a 2x year-over-year growth in customer base, a 4x increase in invoice volume, and a 2.5x quarter-over-quarter growth in bookings.
- In the last six months, Zuora signed six $1 million+ deals across multiple verticals, including one of the world’s largest communications providers and others in education, travel services, cloud services, and media. Zuora’s customer base now represents over $10 billion in total contracted subscription revenue.
- Zuora’s rapid growth reflects both the accelerating shift to the Subscription Economy being made by large enterprise and emerging companies in every industry sector and Zuora’s dominant position as the gold standard for subscription commerce. New customers include Fox Interactive Sports, Towerstream, Media Temple, Kaplan, Illumina, Zendesk, Blue Jeans Network, SendGrid, OwnZones, GenWi, Alpha Software Corporation, Influitive, Dynamic Network Services, icix, SMTP, EMyth, and Sigma Estimates
Investing in Global Expansion and Unmatched Leadership
- In response to the demand it is seeing in the marketplace, Zuora has expanded its leadership team in the last six months, including:
- David Reeves has been appointed Senior Vice President of North America sales. Reeves has over nineteen years of High Tech sales and Software sales management experience. Prior to Zuora, Reeves served in a variety of executive roles at PTC, a $1B+ industry leading computer software company.
- John Ruthven has been appointed Senior Vice President of International Sales. Ruthven will direct all international enterprise sales and marketing operations outside of North America including new offices in both London at 22 Longacre, Covent Garden, and Sydney at 101 Miller Street. Prior to Zuora, Ruthven led international sales organizations in Europe and Asia Pacific during his tenure at CA Technologies. Earlier this year, Ruthven drove the launch of Zuora’s Australia and New Zealand operations.
- Marc Aronson has been appointed Senior Vice President of Engineering and Technology. An ex-Portal Software and Oracle executive, Aronson has deep industry experience in building robust, scalable, enterprise class billing and cloud platforms. Aronson will be responsible for product development, engineering, quality and technology operations.
- Ruthven, Reeves and Aronson join a leadership team that is comprised of some of the strongest, most experienced names in cloud and enterprise software. In just the last three months, Zuora has added Splunk executive Christina Noren as Senior Vice President of Products, and CA executive Brian Bell as Chief Marketing Officer.
- “In the last six months, Zuora has seen a dramatic rise in demand from billion dollar enterprises wanting to make the shift to the Subscription Economy,” said Tien Tzuo, CEO of Zuora. “We’re anticipating this growth to accelerate even further. Now is the time for us to invest in broad market awareness, international expansion and enhancing our leadership team. We have big plans for Subscribed 2012, and we believe it will become a can’t-miss conference for anyone who is involved in the Subscription Economy.”
About Zuora, Inc.
Zuora is the global leader in subscription billing and commerce solutions that help companies in every industry transition to the Subscription Economy. Enterprises and emerging companies alike use Zuora’s multi-tenant cloud solutions to enable growth strategies, to streamline key processes and to provide visibility into the metrics that matter most in the Subscription Economy. Zuora services innovative customers like Informatica, Tata Communications, Box, DocuSign, Xplornet Communications, Ustream and Reed Business Information. To learn more about Zuora, please visit zuorainternprd.wpengine.com.
Reidy Communications for Zuora