Zuora, a Redwood City, CA-based subscription commerce and billing company, has raised $36m in Series D funding.
The round was led by Index Ventures, with additional participation from Greylock Partners, Dave Duffield, founder and co-CEO, Workday, as well as existing investors Benchmark Capital, Redpoint Ventures, Shasta Ventures, Tenaya Capital and Marc Benioff, chairman and CEO, salesforce.com.
This investment brings the total amount raised by the company to date to $82.5m.
Zuora plans to use the funds for international and product line expansions. The company is currently expanding its European presence across the Netherlands, Germany, France and Ireland with new offices, staff and strategic partnerships. Zuora has already signed over €2 billion ($2.7billion) in contracted subscription revenue with customers across the EMEA region.
The company also intends to invest in core research and development to broaden its solution reach, delivering an extended product line including subscription commerce, subscription billing and subscription finance.
In conjunction with the funding, Michelangelo Volpi, partner at Index Ventures, has joined the company’s board of directors.
Led by co-founder and CEO Tien Tzuo, Zuora provides subscription businesses with a comprehensive cloud platform with pricing, quoting, order, billing, payment, and renewal tools.
Enterprise customers include 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, Xplornet, Box, Branchout, Cloud9, DocuSign, Marketo, MuleSoft, Ning, Ooyala, salesforce.com’s Radian6 division, Splunk, Symplified, TimeTrade, Ustream, Xactly, Yammer and ZenDesk.
The company si currently hiring (http://zuora.com/company/zuora-careers.html)