Billing Startup Zuora Signs Over $1 Billion In Subscription Revenue In Q1

We’ve written about Zuora, a SaaS startup that offers online services to manage and automate customer subscriptions and payments, and its impressive backing. Today the company has reached a new milestone; Zuora has signed over $1 billion in contracted subscription revenue in the first quarter of its new fiscal year, which ended April 30. Zuora’s cloud-based billings platform aims to alleviate the need for online businesses to develop their own billing systems, especially to handle recurring payments like those associated with subscriptions. The company says that its growth in revenue, bookings and cashflow is thanks to the shift to the “Subscription Economy” in both the consumer and enterprise world. Zuora also saw a 102% growth in revenue, a 127% growth in organic cash flow and was cash flow positive for the quarters. Clients using Zuora’s service include Rearden Commerce, Pandora Media, ReputationDefender and HDCloud

Read more from the original source:
Billing Startup Zuora Signs Over $1 Billion In Subscription Revenue In Q1

Read similar Posts:

• Nightmarish Hardware Failure At Recurly Erases Subscription Billing Info Of Some Clients’ Customers
• IBM Reports Revenues Of $25.7 Billion, Down 3% But Beats Estimates For Earnings Per Share
• Apple’s Tim Cook: “China Was Very Key To Our Results.”
• Facebook Ads Becoming (A Little) More Valuable; Mobile May Be Next
• Analysts: Nokia On Track To Burn Through Its Whole $6B Cash Pile In Next 2 Years