Zuora, a Foster City, Calif.-based provider of a relationship business management (RBM) platform, raised $115m in funding.
Backers included public market investors Wellington Management Company LLP and Blackrock Inc, as well as Premji and Passport Capital, which joined participating existing investors Benchmark Capital, Greylock, Redpoint, Index, Shasta, Vulcan, Next World Capital, Dave Duffield, co-founder and chairman of the board of Workday, and Marc Benioff, chairman and CEO of salesforce.com.
The company, which has now raised $250m, intends to use the funds for global growth into new geographies and vertical markets, expansion of its team with sales, engineering and marketing personnel, and continued research and development activities.
Founded in 2007 by Tien Tzuo, CEO, Zuora provides a software-as-a-service (SaaS) relationship business management (RBM) platform that allows companies from a wide range of industries, including media, travel services, consumer packaged goods, cloud services, and telecommunications to manage the entire lifecycle of the subscriber, including customer acquisition, recurring billing and payments, revenue recognition, and subscription metrics.
The company, which also operates offices in Atlanta, London, Paris, Munich, Beijing, Amsterdam, Vienna, Sydney, Copenhagen and Stockholm, has a total global workforce of 500 employees.
Clients include Financial Times, Schneider Electric, Box, Honeywell, NCR, RTL, lynda.com, The Guardian, YP.com, BlueJeans, Shutterfly, TripAdvisor, Vivint and Trulia.