Zuora, Inc., the leading provider of subscription commerce, billing and finance solutions, today announced that its customer, Thync, selected the Zuora® subscription management platform to launch the world’s first subscription-powered wearable for relieving anxiety and helping people sleep better. As a result, Thync was able to accelerate the time to market of its next generation neurostimulation device and bring the new Thync Relax Pro to consumers in less than one year.
Launched in 2015, Thync is a revolutionary company leading health towards a new frontier where biology and technology merge. The wearable device delivers neurostimulation programs that tap into the body’s own mechanisms to help it relax, improve mood and sleep better. Thync goes beyond emotion sensors and brain wave detecting gadgets, instead activating the mind and making people better. But without business critical systems in place nor an ecommerce environment for sales, Thync turned to Zuora to help get its innovative product and connected services to market.
“With U.S. stress levels reaching a tipping point and costing the American economy about $300 billion per year, wellness-as-a-service is a huge opportunity for the technology industry,” said Isy Goldwasser, CEO of Thync. “To capitalize on this burgeoning market, we needed a long-term partner to guide us through direct-to-consumer and to-business sales strategies for our wearable. The Zuora platform was perfect to automate our subscription management process and iterate our pricing and packaging, which helped us bring the device to market as fast as possible.”
Why Thync selected the Zuora platform to manage the growth of its subscription business:
- Pricing Experimentation: The company’s complicated pricing and billing called for a solution to manage one-time hardware sales combined with monthly subscriptions on a single platform. Zuora’s flexible pricing and packaging capabilities enabled Thync to quickly and accurately recognize revenue for its hybrid product and services model.
- Subscriber Experience: The Thync Pod costs $149 and Thync Relax Pro is offered as a $29 per month service. The monthly subscription provides access to Deep Sleep and Deep Relax neurostimulation programs and Thync Pad Packs. Thync neurostimulation programs are automatically updated and enhanced, and Thync Pad Packs are automatically sent via auto-fulfillment based on usage. Building its service on the Zuora platform gives Thync the ability to let its customers manage their own self-service sign ups, downgrades, and upgrades on a reliable and secure platform.
- Payment Support: Running its business on the Zuora platform allowed Thync to automate its financial processes and bill runs, freeing the company from manually updating spreadsheets. As the company continues to grow and prepare for future international expansion, Thync will rely upon Zuora’s scalable solution and over 20 payment methods, 180 currencies and 20 payment gateways.
“The product economy is being reborn through subscriptions. Companies are now focused on their relationships with customers, not their devices, to bring ongoing value to the customer,” said Tien Tzuo, CEO and founder of Zuora. “The future of wearables is prioritizing services over hardware, and Thync is leading the personal wellness market in this transformation.”
To hear directly from Thync and learn more about the product, read the Zuora case study. To adapt these lessons of growth for your own company, download Zuora’s webinar on “The Keys to a Successful Product Launch.”
“The Subscription Economy: A Business Transformation” by Tien Tzuo, CEO of Zuora
SlideShare: “Drivers of Success in the Subscription Economy”
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Thync has created a breakthrough neurostimulation technology to relieve stress, anxious thoughts, and to help people feel and sleep better. Thync believes in unlimiting people and tapping the power of the human mind. Through its groundbreaking neurostimulation platform, Thync’s mission is to lower stress in the world to help people live better lives. Thync’s technology acts on stress and anxiety pathways in the body directly without the side effects associated with drinks and pills. Thync is headquartered in Silicon Valley. More information is available at www.thync.com.
About Zuora, Inc.
Zuora is a SaaS company and the world’s foremost evangelist of the Subscription Economy. Zuora’s leading subscription management platform helps enable businesses in any industry to launch or shift products to subscription, implement new pay-as-you-go pricing and packaging models, gain new insights into subscriber behavior, open new revenue streams, and disrupt market segments to gain competitive advantage. Zuora serves more than 1,000 companies around the world in every industry, including Box, Komatsu, Rogers, Schneider Electric, Toshiba, Xplornet and Zendesk. The Subscription Economy Index (SEI) demonstrates that SEI companies are growing revenues approximately nine times faster than the S&P 500. Headquartered in Silicon Valley, Zuora also operates offices in Atlanta, Boston, Denver, San Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo.
© 2017 Zuora, Inc. All Rights Reserved. Zuora, Subscribed and Subscription Economy are 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. To learn more about the Zuora platform, please visit www.zuora.com.