Social impact is a key part of our culture, business, and long-term success. That’s why we took the 1% Pledge in 2017 and committed our time and equity to giving back.
In 2019, we launched Zuora.org, which is part of our company and not a separate entity, to help individuals, as well as businesses, benefit from the Subscription Economy®. We want not only our customers, but also those in our communities around the globe to be able to access, participate in, and benefit from this new economy.
To date, we have contributed US$4 million worth of our Class A common stock to our Impact Fund. This funding allows us to make grants to causes in our communities around the world, and support our ZEO giving and volunteering programs.
In fiscal year 2022, we formalized our philanthropic focus and directed over US$1 million to support organizations in our focus areas. Zuora.org is committed to building inclusive economies and increasing access to critical products and services for underserved communities around the world. We invest in programs that support impact-driven entrepreneurs, build a more sustainable future, create economic opportunities for youth, and strengthen our local communities. We empower ZEOs to become changemakers and utilize their passion and expertise to help drive our social impact agenda forward.
We are partnering with Village Capital, the most active supporter of impact-driven, seed-stage entrepreneurs in the world, to fight climate change and preserve our planet through the Subscription Economy.
At Zuora, we believe that all young people deserve equal access to education and economic opportunity – no matter their background, income, or location.
Employers around the world are facing a growing need for talent, while millions of youth are disconnected from the economic mainstream.
In 2021, we launched a partnership with the Network for Teaching Entrepreneurship (NFTE) and continued our partnerships with Dev/Mission and Climb Hire to help equip young people from underserved communities with the skills and experiences they need to succeed in today’s economy, while ensuring that companies have access to the workforce they need to compete across the globe. In addition to grant funding, our ZEOs volunteer as mentors and workshop leaders.
No one understands the needs of our communities better than the people on the ground, which is why our ZEOs have the opportunity to nominate organizations in their local communities for grants of up to US$10,000 each year.
In 2021, we granted US$200,000 to 23 organizations from around the world. We supported a wide array of programs, ranging from workforce development to hunger relief to health equity, and so much more.
In June of 2021, we launched our first-ever Kiva campaign and made history as Kiva’s second most successful campaign of all-time and their most successful campaign of the year. Kiva is a global nonprofit that crowdfunds loans from people around the world to support thousands of microbusinesses and individuals. During the campaign, all full-time ZEOs were given a US$50 credit to lend to a borrower on Kiva’s platform. Over 85% of ZEOs across the world used these funds to support all types of businesses, from farmers and tailors to barbers and engineers. Some of our loans even went to support families in need of extra funds for school or medical care.
In November of 2021, we extended the Kiva Campaign to our customers to recognize the work that they are doing to create The World Subscribed™. We provided them with a US$250 credit to lend to borrowers of their choice and over 200 customers participated.
In June 2021, Zuora launched a global Matching Gifts program to further empower our ZEOs to give their time, money, and skills to the charitable causes they care about most. Zuora matches up to US$1,000 per employee per year for charitable donations, volunteer time, or a combination of the two.
In fiscal year 2022, our ZEOs donated over US$95,000 and Zuora matched over US$91,000, directing a total of over US$186,000 to nonprofits across the globe. In addition, our ZEOs volunteered over 2,400 hours of their time with mission-aligned nonprofits.
Our Z-Philanthropy program is powered by passionate ZEOs from around the world who help foster strong relationships between Zuora and our local communities. Z-Philanthropy teams partner with local nonprofits to make a positive social and environmental impact through leading volunteering and fundraising initiatives for their particular location. We currently have 25 Z-Philanthropy Leaders and 13 chapters across the world.
In 2020, we launched our first annual Global Week of Service which featured 15 different volunteering and fundraising events across the globe. ZEOs raised over US$18,000 for charities and participated in everything from sorting food to assembling hygiene kits to decorating baby onesies.
In 2021, we transitioned our Global Week of Service to a Global Month of Service, where nearly 500 ZEOs participated in over 20 volunteering events. The events included everything from park clean-ups to conducting mock interviews to calling isolated seniors, and so much more.