Zoho surpasses 100 mn users, Sridhar Vembu says 'not done yet'
By siliconindia | Tuesday, 05 September 2023, 02:44:32 PM IST
Global software-as-a-service (SaaS) company Zoho said that it has surpassed 100 million users across its more than 55 business applications. The growth comes on the heels of the company reaching $1 billion in annual revenue last year. Zoho said it has increased its traction from 1 million users in 2008 to 100 million 15 years later with the last 50 million users added within the past five years.
“This is an impressive milestone for any organization, but it's particularly sweet for us as a bootstrapped company that has never raised external capital. And we are not done yet,” said Sridhar Vembu, Co-founder and CEO of Zoho. “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,” he added. Zoho has more than 700,000 businesses across more than 150 countries.
India is one of the fastest-growing countries, where the company has witnessed a three-year CAGR of 65 percent in the upmarket segment. Notably, the mid-market and enterprise segment now accounts for more than 50 percent of Zoho's annual recurring revenue (ARR) in India. Headquartered in Chennai, Zoho is privately held and profitable with more than 15,000 employees.
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