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May 12, 2010

Billing Platform Startup Hits $1 Billion Investor Milestone

By Kelly McGuire, TMCnet Editor

For many startup companies, having the right collateral and financial backing is often the defining factor to ensuring a company's initial success.

For Zuora, trademarked as the "leader in subscription billing and recurring payments," a software-as-a-service, or "SaaS (News - Alert)," startup, the company has had quite a repertoire of companies and investors actively showing interest in the organization that offers online services to manage and automate customer subscriptions, billing and payments.

With quite an impressive group of financers, it's no surprise the company is well under way to gaining the capital it needs to ensure professional business success. So, when rumors surfaced that the company reached a monumental milestone by signing over $1 billion in contracted subscription revenue in the first quarter of its new fiscal year, which ended April 30, I was not surprised.

The company's billing platforms, targeted in the "virtual" world, or cloud-based systems, aim to help consumers find an alternative solution to developing their own business systems, which often times create additional work or have flawless campaigns.

And apparently, Zuora's billing platforms are being noticed by more than just the investors writing the paychecks. The company saw a 102 percent growth in revenue, a 127percent growth in organic cash flow and was cash flow positive for the period and, with clients like Rearden Commerce (News - Alert), Pandora Media, ReputationDefender and HDCloud, we can see why.

For a company that was launched just a few years ago, it seems to be doing quite well for itself, especially given what a tough time we're in.

Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.

Edited by Kelly McGuire

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