Zuora Files To Raise $100 Million In US

Zuora

Zuora is gearing up for a U.S. initial public offering (IPO), according to documents with filed with the U.S. Securities and Exchange Commission. The subscription platform is seeking to raise $100 million through the sale of Class A shares, Seeking Alpha reported.

To date, Zuora has raised more than $286 million. Its investors include Benchmark Capital, Wellington Capital Management and Shasta Ventures. In 2013, the company raised $50 million in Series E fundraising. First-time participants in that round included Next World Capital, Northgate and Vulcan Capital – as well as a host of returning investors.

The company is headed by its founder, Tien Tzuo, who previously served in the chief marketing officer and chief strategy officer roles at Salesforce.

Founded in 2007, San Mateo, California-based Zuora is an end-to-end subscription business management platform with capabilities and insights needed for businesses hoping to grow a robust subscription service with customers that stay on board for the long haul.

“Zuora’s core platform is a SaaS solution that includes billing, commerce, finance and revenue recognition, which solves the complexities of subscription billing that cannot be addressed by legacy financial systems,” David Gee, the former CMO of Zuora, said. “[The company] also adapts dynamically to changes that legacy systems, like ERP, were not designed to address, as these systems were built for a product-based world of ‘one-time’ sales transactions.”

The core platform tracks subscription payments, invoices, pricing, product catalogs and taxation, while also providing its clients with reporting and analytics, ranging from customer demographics, to behaviors, to financial performance. The product is also compatible with other business applications and has an app development marketplace for customers requiring third-party integrations.

Regarding digital payments, Zuora integrated with Stripe, Worldpay, Ingenico, PayPal, Adyen, SlimPay and others. Zuora partners with Avalara, Vertex and Wolters Kluwer and is used alongside many CRM, ERP, ETL, analytics and sales performance providers.