Business Editors/High-Tech Editors
SAN FRANCISCO--(BUSINESS WIRE)--July 22, 2008--Zuora, Inc., formed by Software-as-a-Service (SaaS) industry veterans from salesforce.com and WebEx to revolutionize the subscription billing industry, announces it has achieved a high number of early customer acquisitions since the launch of its first product. Companies that range from enterprise level to one-man startups are coming to Zuora for an online billing solution designed specifically to help manage and grow their SaaS and subscription businesses.
âWhen we formed Zuora, we believed the subscription industry was hungry for an online billing solution designed specifically for this complex model. The response weâve received since our launch has proven this to be true,â said Tien Tzuo, CEO of Zuora. âSubscription businesses need customizable pricing and packaging, a scalable quote-to-cash process, and different metrics to succeed under this model. Thatâs exactly what Z-billing delivers.â
After launching Z-Billing at SIIA Netgain in May 2008, Zuora has quickly signed and deployed 17 customers including: Cloud9 Analytics, a provider of on-demand business intelligence applications; Marketo, a B2B lead management software provider; and TopRight, a one-man startup providing marketing database solutions to online retailers. These and other customers join Coremetrics, a developer of digital marketing optimization solutions, and one of Zuoraâs previously announced customers.
Marketo switched from Aria to Z-Billing for the productâs flexibility, ease-of-use and implementation, and integration with CRM and accounting systems. âZ-Billing allows our company to track and manage all of our recurring revenue in a very simple way that just wasnât possible before,â said Phil Fernandez, CEO of Marketo. âThe team at Zuora really understands our business model, our visions are well aligned, and we have great confidence that this solution will help us more and more over time.â
Cloud9 Analytics CEO Swayne Hill goes on to say, âMany businesses believe SaaS is an easy model to manage. However, from a billing perspective, it is a costly, difficult process. Z-Billing has allowed us to grow rapidly and scale our operations in a very seamless way. Their implementation process was also painless, and we were able to integrate Z-Billing very quickly and easily.â
Zuora has created a major shift in how subscription businesses operate with a unique Web-based billing system called Z-Billing. It is the first billing software of its kind for SaaS and other subscription businesses. Z-Billing is built as an on-demand service, putting control and flexibility in the hands of the end user. It allows businesses in all industries and all sizes to quickly launch new products and pricing options, scale operations and have one central location for all of their revenue-related data.
Zuora announced a Series A funding round of $6.5 MM from Benchmark Capital and Marc Benioff in March 2008. The company plans to announce an advisory board later this summer, as well as launch additional products this year to support the growing subscription industry. For more information, go to www.zuora.com.
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 www.Zuora.com.
Ubiquity Public RelationsAly Saxe, firstname.lastname@example.org
State Keywords: CaliforniaIndustry Keywords: Technology; Online Retail; Data Management; Hardware; Networks; Software; Professional Services; Accounting; RetailSource: Zuora, Inc.
Authoritative analysis and perspective for every segment of the payments industry
Authoritative analysis and perspective for every segment of the industry
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