Confirmation that Zuora Inc. is looking to IPO in 2018 came from CEO Tien Tzuo earlier this year. The company, which specialises in billing and forecasting software for subscription software firms, was valued at $740m in March 2015 and had been expected to float in 2017.
The company has experienced a strong growth and now boasts 800 employees in 13 countries, with main offices located in San Francisco and San Jose, California. The company further fueled expansion with the acquisition of another San Jose-based company, Leeyo.
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Since the company was founded in 2007, it has raised $250 million in capital, primarily from Benchmark, Greylock Partners and Index Ventures. It also boasts backing from Salesforce CEO Marc Benioff, who is a Zuora customer and one time colleague of Zuora CEO Tien Tzuo, who built the billing system for Salesforce.
Whilst 2017 was widely seen as a return to form for tech IPOs, it looks possible that 2018 will be bigger still, with rumours circulating around Pinterest and Acquia too.
CEO Tzuo spoke to The Information earlier in 2017, stating:
We have passed the magic threshold of $100 million in revenue in the last four quarters, and we are hoping to go public in 2018.