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Chennai-based Software as a Service (SaaS) firm Zoho Corporation has surpassed 100 million users across its 55-plus business applications. The company on Tuesday said it is the first bootstrapped SaaS company to reach this milestone.
Zoho has added at least 50 million users. Its user base has grown from 1 million users in 2008 to 100 million in 2023. The company crossed one billion US dollars in annual revenue last year. It now serves more than 700,000 businesses across more than 150 countries. India is one of the fastest-growing markets for the firm, where it has witnessed a three-year compound annual growth rate (CAGR) of 65 per cent in the upmarket segment.
Best known for its online office suite applications, Zoho provides tools for Customer Relationship Management (CRM), project management, social media management, marketing automation, helpdesk software, and so on. The company serves sales, marketing, finance, legal, and information technology, among other sectors.
“This is an impressive milestone for any organisation, but it’s particularly sweet for us as a bootstrapped company that has never raised external capital. And we are not done yet. We have an impressive innovation pipeline covering the next 10 years and are investing in deep technologies to serve billions of users around the world. We’re working towards it, and we want to thank all of you for your continued support,” said Sridhar Vembu, co-founder and CEO of Zoho Corp.
Some of Zoho’s customers include brands like MakeMyTrip, PUMA, Axis Finance, Paper Boat, Samsonite, BigBasket, Tata Play Fiber, BYJU’S, Star Health & Allied Insurance, Mercedes-Benz India, SpiceJet, IIFL Finance, Meril Life Sciences, Blue Star, Bosch, Zomato, Saint-Gobain, Deloitte and McDonald’s.
The company will host Zoholics—its annual user conference—across 16 countries in the next eight weeks. In India, the event will take place on 10-11 October in Bengaluru. Over 30 Zoholics across 27 countries will be hosted by Zoho in 2023.
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