Forward-thinking startups continue to choose Zuora to future-proof their subscription businesses
San Mateo, Calif — November 25, 2019 — Zuora, Inc. (NYSE:ZUO), the leading cloud-based subscription management platform provider, announced today that Vertalo used Zuora® Billing to launch the first Digital Operating System for Digital Assets. By running its business on the Zuora platform, Vertalo has seen a 20% reduction in time spent on financial processes and 545% month over month revenue growth.
The tokenization of assets is disrupting the financial industry. According to Deloitte, digital currencies create a more efficient and fair financial world by greatly reducing friction involved in the creation, buying and selling of securities on secondary markets. As a result, the Tokenization Market is expected to reach $2.6 billion by 2023.
Vertalo saw this market opportunity and was founded in 2017 to help investors succeed in the new world of tokenized payments by facilitating investor compliance, putting cap tables on the blockchain, acting as a database for the assets, and creating a venue for private market. With the efficiencies driven by Zuora’s platform, Vertalo’s technology is better positioned to remove the technological barriers in private asset markets, further connecting private asset issuers and investors in one platform.
“We selected Zuora as our strategic technology partner to launch and manage our complex subscription billing operations and to future-proof our business,” said Dave Hendricks, CEO and founder at Vertalo. “We anticipate growth of 100 percent each month for the next six to twelve months, and our ability to scale hinges on being able to iterate on the pricing and packaging of our offering. The Zuora platform has enabled us to quickly go to market and adapt to its dynamic demands. This helps us focus our energy on meaningful platform innovation.”
In its early stages of growth, Vertalo wanted to avoid any bottlenecks in product innovation due to traditionally time-intensive finance and IT operations. Zuora Billing has reduced the company’s time spent managing a complex subscription business by 20%. By enabling Vertalo to optimize pricing, understand customer usage patterns and iterate its offering, Zuora helped the company to scale their business to 200% customer and 545% revenue growth MoM/QoQ.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-cash process, including billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in the Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
Launched in 2018, Vertalo is a B2B SaaS company founded to map the gaps between primary and secondary trading of digital securities offerings. As the ‘Operating System for Digital Assets’, Vertalo is focused on connecting and enabling the digital asset economy, providing an industry-leading cap table and investor onboarding solution that facilitates direct ownership and direct listing of any private asset. A subsidiary of SeriesX, Vertalo is headquartered in Austin, TX with offices in New York City and San Francisco Bay Area. Learn more about SeriesX and Vertalo at www.vertalo.com.
© 2019 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release.
Kamp Media Relations on behalf of Vertalo
This press release contains forward-looking statements that involve a number of risks, uncertainties and assumptions, including but not limited to statements regarding the expected growth and trends in the global blockchain and SaaS industries, buying trend expectations, the expected growth and trends in the market for subscription businesses, and the expected benefits of any such trends. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This press release also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information.