Zuora, a San Mateo, CA-based provider of subscription commerce, billing and finance solutions, raised $50m in Series E funding.
The round includes new investors Next World Capital, Vulcan Capital, Northgate Capital, Benchmark Capital, Greylock Partners, Index Ventures, Redpoint Ventures, Shasta Ventures, Tenaya Capital, Workday founder and co-CEO Dave Duffield and Marc Benioff, chairman and CEO, salesforce.com. In conjunction with the funding, Abhishek Agrawal of Vulcan Capital and Craig Hanson of Next World Capital will join the board of directors.
The company intends to use the funds to expand operations into new markets globally.
Founded in 2007 by CEO Tien Tzuo read his post about the funding here), Zuora provides a cloud-based platform for companies to launch, scale, and monetize their subscription services. Applications include subscription pricing, quoting, orders, billing, payments, and renewals.
Customers include Appneta, Borderfree, BoxHop, Carfax, Dell, Docusign, Dyn, Gigya, Google Wildfire, HasOffers, Illumina, Informatica, Joyent, MLSListings, Okta, Rightscale, SendGrid, Symbility Solutions, SMTP.com, Timetrade, UniversityNow, Versature, and Zendesk.
37 job positions are currently opened (read here)