Tuesday, November 9, 2010

Zuora Takes $20M More

Redwood City-based Zuora, which provides software-as-a-service for managing subscription billing, said today that it has raised $20M in a Series C funding round. The round was led by Redpoint Ventures, and also included prior investors Benchmark Capital, Marc Benioff, Shasta Ventures and Tenaya Capital. The new funding brings the company's total raised to $41.5M. The company said the new funding will go towards growing its operations in the U.S. and EMA, and also to expand its portfolio of products. Tim Haley of Redpoint joins the company's board of directors. Zuora said it has been cash flow positive since 2010 of fiscal Q1. More information »