Platform offers first flexible system designed specifically for subscription businesses
San Francisco, Calif. — May 20, 2008 — Zuora, Inc., formed by Software-as-a-Service (SaaS) industry veterans from salesforce.com and WebEx to revolutionize the subscription industry, today announces the general availability of its’ first product Billing. Unlike existing billing solutions, Billing is a scalable platform that easily integrates with the entire company infrastructure and works with subscription businesses of all sizes, in any industry. Billing is the first application to give subscription companies the flexibility, power, and integrated solution to create, manage and grow their business.
“The world is moving from products to services but subscription businesses don’t yet have the right tools to support their complex needs,” said Tien Tzuo, CEO of Zuora, Inc. “The vision of Zuora is to enable subscription businesses of all sizes to spend less time on operations, and more time growing their business.”
Z-Billing is the first application of its kind for subscription businesses that is built as an on-demand model, putting control and flexibility in the hands of the end user. It allows both business to business and business to consumer companies to quickly launch new products and pricing options, scale operations, and have one central location for all of their transaction data. The user interface of Z-Billing is simple to learn and can be customized per each clients’ individual needs and preferences. Z-Billing is also designed to work seamlessly with the most popular CRM and accounting systems, so users can get started quickly.
“Z-Billing was created by executives who know first hand what it takes to run a successful subscription business,” said Mark Resnick, Chief Financial Officer of Coremetrics, one of Zuoras’ first customers. “There are a lot of pains that come with trying to manage an on-demand model and Zuora finally gives us an application that addresses these pains head on. Z-Billing is the first application we’ve used that easily automates all of our processes into one, highly functional system, saving us time and money.”
Designed specifically for subscription businesses
The Z-Billing platform gives subscription companies of all sizes the ability to customize and scale operations to their needs. Z-Billing key features include:
Full pricing and packaging flexibility for any charge model
This includes one-time, recurring, usage, metering and volume tier pricing.
Scalable for all sizes of business
Z-Billing provides high growth companies with a solution that handles invoices, order changes, and billing disputes for thousands, tens of thousands, and millions of customers.
A single system for all subscriptions, billing and account management
Companies have a single source for data about customers, orders, bookings, revenues, renewal rates, and other key metrics important to subscription businesses.
Integrated with popular CRM and Accounting packages
Z-billing is integrated with a company’s CRM and accounting system, delivering a seamless quote-to-cash process that works for a recurring subscription model.
Zuora was founded by SaaS industry veterans from salesforce.com and WebEx. Tien Tzuo, chief executive officer, was one of the original employees at salesforce.com, serving in a variety of executive positions including chief marketing officer and most recently chief strategy officer. During his nine-year tenure, he helped grow the company from zero to nearly $1 billion in sales. K.V. Rao, president, joined WebEx as an early employee, where he was instrumental in forging key alliances and signing on fortune 50 companies. Cheng Zou, chief technology officer, architected and led the implementation of WebEx’s order-to-cash system, which manages the subscription lifecycle process.
The company secured a Series A funding round of $6.5 million from Benchmark Capital in December 2007, publically announcing the company in March 2008. Z-Billing is generally available from zuorainternprd.wpengine.com or by calling (650) 641-3777. For more information, please call or visit the Web site.
About Zuora, Inc.
Zuora, Inc. is a Redwood City based company created to support the growing subscription market with a complete solution that is flexible, powerful, and integrates with the entire company infrastructure. The platform created by Zuora changes the way subscription businesses manage and sell to customers, as well as allows them bring new products to the market in less time, and with less hassle. Zuora was built from the ground up by SaaS industry visionaries and veterans from salesforce.com, WebEx, Accenture, Postini (now Google), and Oracle. To learn more about Zuora, please visit zuorainternprd.wpengine.com.