Zuora “Delivers on Its Promise” While Experiencing “Huge Growth”
Redwood City, CA — April 5, 2012 — Zuora, the Commerce, Billing and Finance leader for the Subscription Economy, has been named the AlwaysOn OnDemand Company of the Year for 2012. Zuora CEO Tien Tzuo accepted the award onstage at the AlwaysOn OnDemand conference in Cupertino.
“Zuora has demonstrated clear leadership in defining not just a new on-demand solution, but a fundamental shift to new on-demand business models,” said Tony Perkins, Founder and Editor, AlwaysOn. “Zuora is leading the revolution to enable the Subscription Economy and, in the process, has built one of the next great enterprise software companies.”
In selecting Zuora, AlwaysOn stated, “With early market entry, strong revenue, and an extremely stable, secure, and useful suite of products, Zuora’s success and continued growth is indicative of its ability to launch and monetize subscription-based products and services of any size in any market.”
Zuora CEO Tien Tzuo delivered a keynote at the OnDemand conference, entitled “The Only 3 metrics That Matter For A SaaS Economy Company”, discussing the critical financial changes brought by the shift to the Subscription Economy.
AlwaysOn announced who the OnDemand Top 100 winners were last month. For a third consecutive year, Zuora was honored by AlwaysOn on the Top 100 list. Companies were selected based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz.
The competition this year was fierce, with hundreds of private technology companies being nominated by investors, technology leaders, journalists, industry insiders and bankers. Zuora customers Box.net, GoGrid, Xactly, Acquia, Mulesoft, Syncplicity, Symplified, Jive Software, Marin Software, Marketo, DotNetNuke, BrightEdge, BranchOut, People Matter, Yammer, and Zendesk were also honored this year.
When it was founded in 2007, Zuora predicted a fundamental shift from the 20th century product-based, “buy once” economy to a services-based economy based on recurring revenue. Today, the Subscription Economy is fueling massive change across communications, media, technology, consumer services and other billion dollar industries that are embracing subscription revenue models.
In four years, Zuora has enabled this transformation by creating a comprehensive platform built for subscription businesses, pioneering the subscription commerce market and becoming the leading provider of solutions for the Subscription Economy. Zuora’s key accomplishments in its first four years include:
- Built one of the fastest growing private enterprise software companies, including more than 100% annual growth in bookings, 10 deals over $1M in the last 18 months, and doubling the company size in 2011 to nearly 200 employees.
- Trusted to run the mission critical revenue operations of large enterprise customers, including: AAA No. California, Nevada and Utah, Dell, Concur, IBM Coremetrics, Informatica, News International, Reed Business Information, Qualcomm, Ricoh, Tata Communications, Touring Club Suisse, TripAdvisor, VNU Media, Vocus, and Xplornet.
- Chosen by emerging Subscription Economy leaders including: Box, Branchout, Cloud9, DocuSign, Marketo, MuleSoft, Ning, Ooyala, salesforce.com’s Radian6 division, Splunk, Symplified, TimeTrade, Ustream, Xactly, Yammer and ZenDesk.
- Established partnerships with many of the leaders in cloud computing and commerce, including: Microsoft, Netsuite, PayPal, salesforce.com, VMware, and Workday.
- Delivered new technology and capabilities to customers for 34 straight months, an unparalleled pace of innovation in the technology industry.
- To date, Zuora has raised $82.5 million in funding from industry-leading investors including Benchmark Capital, Greylock Partners, Index Ventures, Redpoint Ventures, Shasta Ventures,Tenaya Capital and personal investments from Dave Duffield, founder and co-CEO, Workday and Marc Benioff, chairman and CEO, salesforce.com.
“The Subscription Economy has grown dramatically from early on-demand models into a driving force of the global economy. This year’s Top 100 list represents some of the leading companies driving this revolution,” said Tien Tzuo CEO of Zuora. “We believe the Subscription Economy is kicking off a wave of on-demand business models that will remake billion dollar industries. It is a fundamentally new way of doing business that provides a means to better serve customers, build stronger market-leading companies and pave the way for future business model innovation.”
About Zuora, Inc.
Zuora is the global leader in subscription commerce and billing, helping companies in every industry transition to the Subscription Economy. Enterprise leaders and high-growth companies alike use Zuora’s multi-tenant cloud platform to launch, scale, and monetize their subscription services. Zuora’s applications work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box.net, Ning, GigaOm, Xplornet, Ustream and Reed Business Information. To learn more about Zuora, please visit www.zuora.com.
AlwaysOn OnDemand Top 100 Private Companies
The OnDemand Top 100 are the top emerging Internet companies disrupting the established enterprise and pioneering cloud computing and SaaS. The list identifies the top 100 private companies that are taking old notions of data management, customer relationships, and infrastructure and forging solutions that will shake up the industry and lead to huge value creation opportunities.