How Much Did Zuora Raise? Funding & Key Investors

Zuora has raised over $801.5 million in funding across multiple rounds — from its 2008 Series A to a 2024 Private Equity (go-private) transaction — backed by a range of prominent investors including Benchmark Capital, Silver Lake, GIC, Redpoint Ventures, Index Ventures, and Greylock Partners.

Keep reading to explore Zuora's full fundraising journey.

What Is Zuora?

Zuora is a cloud-based subscription management platform headquartered in Redwood City, California. Founded in 2007 by Tien Tzuo (formerly of Salesforce), Zuora helps businesses manage subscription billing, revenue recognition, and recurring revenue operations. Its platform serves over 1,000 enterprise customers across industries and powers what Tzuo calls the "Subscription Economy."In February 2025, Zuora completed a go-private transaction led by Silver Lake and GIC, valued at $1.7 billion.

How Much Funding Has Zuora Raised?

1. Series A
   • Amount Raised: USD 6,500,000
   • Date: March 13, 2008
   • Lead Investor: Benchmark Capital
   • Other Investors: Founders from Salesforce.com and WebEx
2. Series B
   • Amount Raised: USD 15,000,000
   • Date: October 28, 2008
   • Lead Investors: Shasta Ventures, Lehman Brothers Venture Partners
   • Other Investors: Benchmark Capital, Marc Benioff
3. Series C
   • Amount Raised: USD 20,000,000
   • Date: November 9, 2010
   • Lead Investor: Redpoint Ventures
   • Other Investors: Benchmark Capital, Marc Benioff, Shasta Ventures, Tenaya Capital
4. Series D
   • Amount Raised: USD 36,000,000
   • Date: November 16, 2011
   • Lead Investor: Index Ventures
   • Other Investors: Greylock Partners, Dave Duffield, Benchmark Capital, Redpoint Ventures, Shasta Ventures, Tenaya Capital, Marc Benioff
5. Series E
   • Amount Raised: USD 50,000,000
   • Date: September 5, 2013
   • Lead Investors: Next World Capital, Vulcan Capital, Northgate Capital
   • Other Investors: Benchmark Capital, Greylock Partners, Index Ventures, Redpoint Ventures, Shasta Ventures, Tenaya Capital, Dave Duffield, Marc Benioff
6. Series F
   • Amount Raised: USD 115,000,000
   • Date: March 11, 2015
   • Lead Investors: BlackRock, Passport Capital
   • Other Investors: Wellington Management, Premji, Benchmark Capital, Greylock Partners, Redpoint Ventures, Index Ventures, Shasta Ventures, Vulcan Capital, Next World Capital, Dave Duffield, Marc Benioff
7. Secondary Market
   • Amount Raised: Undisclosed
   • Date: June 2016
   • Investor: SharesPost Investment Management
8. Secondary Market
   • Amount Raised: Undisclosed
   • Date: February 2017
   • Investor: EquityZen
9. IPO (Post-IPO Equity)
   • Amount Raised: USD 154,000,000
   • Date: April 12, 2018
   • Exchange: NYSE (Ticker: ZUO), priced at $14 per share
   • Underwriters: Goldman Sachs, Morgan Stanley
10. Post-IPO Equity (Strategic Investment)
    • Amount Raised: USD 400,000,000
    • Date: March 2, 2022
    • Lead Investor: Silver Lake
    • Structure: $250M convertible senior unsecured notes (initial close) + $150M to follow; plus warrants for 7.5M shares of Class A common stock
11. Private Equity (Go-Private Acquisition)
    • Transaction Value: USD 1,700,000,000 (enterprise value; $10.00 per share in cash)
    • Announced: October 17, 2024
    • Completed: February 14, 2025
    • Lead Investors: Silver Lake (lead acquirer), GIC
    • Notes: Zuora was taken private; stock delisted from NYSE. CEO Tien Tzuo rolled over majority ownership and continues to lead the company.

Total Amount Raised: At least $801,500,000 based on disclosed funding rounds (excluding secondary market undisclosed amounts and the go-private acquisition enterprise value).

Key Investors

• Silver Lake
  • Details: A global technology investment firm with over $90 billion in AUM. Silver Lake made a $400M strategic investment in Zuora in March 2022 and subsequently led the $1.7B go-private acquisition completed in February 2025. Managing Partner Joe Osnoss joined Zuora's board after the 2022 investment.
• GIC
  • Details: Singapore's sovereign wealth fund. GIC co-led the $1.7 billion acquisition of Zuora alongside Silver Lake in 2024–2025. Key GIC contacts include Choo Yong Cheen and Eric Wilmes.
• Benchmark Capital
  • Details: Led Zuora's Series A in March 2008 and participated in all subsequent venture rounds through Series F. General Partner Peter Fenton joined Zuora's board at the time of the Series A.
• Redpoint Ventures
  • Details: Led Zuora's Series C in November 2010 and participated in Series D, E, and F. Partner Tim Haley joined Zuora's board at the time of the Series C investment.
• Index Ventures
  • Details: Led Zuora's Series D in November 2011. Partner Michelangelo Volpi (and later Mike Volpi) joined Zuora's board as part of the investment.
• Greylock Partners
  • Details: Participated in Zuora's Series D, E, and F rounds, reflecting long-term conviction in the subscription economy platform.
• Marc Benioff
  • Details: Chairman and CEO of Salesforce.com. Invested personally in Zuora from Series A through Series F, supporting founder Tien Tzuo's vision for subscription-based businesses.
• Next World Capital
  • Details: Co-led Zuora's Series E in September 2013. Partner Craig Hanson joined Zuora's board following the investment.

What's Next for Zuora?

Now operating as a private company under Silver Lake and GIC's ownership since February 2025, Zuora is positioned to accelerate its growth strategy outside the pressures of public markets. CEO Tien Tzuo remains at the helm with a significant ownership stake, signaling strong management continuity. The company's focus on the subscription economy — serving recurring revenue businesses across industries — gives it a durable market position as more companies shift to subscription and usage-based models. With Silver Lake's deep technology expertise and GIC's global reach, Zuora is expected to pursue both organic growth and strategic acquisitions to extend its monetization platform leadership.

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