Tuesday, October 28, 2008

Zuora Adds $15M

San Francisco-based Zuora, a provider of software-as-a-service for managing subscription billing and payment, said Tuesday that it has raised $15M in a Series B funding round. The round was led by Shasta Ventures and Lehman Brothers Venture Partners, and included prior investors Benchmark Capital and Marc Benioff. Zuora provides on-demand services to manage subscription-based online businesses. According to the firm, the new funding will go towards customer acquisition and new product development. The round brings the company's total raised to $21.5M. More information »