Zuora to Acquire Togai, Enhancing Usage-Based Offerings Amid the GenAI Explosion
30 Abril 2024 - 10:00AM
Business Wire
Acquisition empowers developers and finance
teams to accelerate usage-based offerings
Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern
business, today announced its planned acquisition of metering and
rating solution Togai, enhancing its usage-based offerings. With
Togai’s low-code builder and developer-friendly interface to
quickly configure metering and rating of raw events, the
acquisition will help Zuora unite developers and finance teams to
launch, iterate and adapt usage-based models.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240430174050/en/
(Graphic: Zuora)
The explosion of generative AI (GenAI) technologies has
companies increasingly turning to usage-based business models, but
added complexity and cost still prevent many companies from
effectively monetizing their offerings. Developers often have sole
access to product usage data and are left to manage it with
inadequate, custom-coded systems, leaving finance teams unable to
access the information they need to accurately invoice and
recognize revenue.
Togai enhances Zuora’s monetization suite, enabling developers
to work alongside finance teams to define and operate any pricing
model with a solution that can be easily plugged into their
existing data stack. Its metering system facilitates event
ingestion from a variety of sources, and its flexible rating engine
enables unique ways to package and bundle offerings. Developers can
get started with Togai’s self-service interface in minutes, which
can support up to a billion events per day and reduce customer
disputes with fully auditable and traceable usage data. Its Revenue
Simulator and pre-built CRM connectors also alert sales teams of
upcoming upsell and renewal opportunities.
“Togai’s sophisticated metering and rating extends Zuora’s
market-leading monetization suite to accelerate usage-based
models,” said Tien Tzuo, Founder and CEO at Zuora. “Together, we
will be strategically positioned to provide the right solutions for
developers and finance teams to power the next generation of
monetization.”
Togai was founded in 2022 by Abhishek Rajagopal, Aravind
Sriraman, and Tholkappiyan Velavan, who will join Zuora with Togai
employees. After closing, Togai’s metering and rating solution will
become a part of Zuora’s existing product suite alongside Zuora
Billing, Zuora Revenue, Zuora Payments, Zephr and Zuora Platform.
It will be available both as a new standalone usage offering and
with Zuora’s existing consumption solution. The acquisition also
strengthens Zuora’s ability to enable Total Monetization, helping
companies evolve their offerings to align with customer demand
through a mix of innovative business models.
“Developers spend months building internal metering and rating
systems, which can quickly evolve into a dedicated team of
engineers as companies realize that building a usage-based billing
system is not a one-time effort. Togai makes it possible to go live
in hours with an out-of-the-box, flexible solution to model any
type of pricing and reliably scale,” said Abhishek Rajagopal, CEO
and Co-founder at Togai. “Combining Zuora and Togai is the right
decision to bring together deep metering and rating with the scale
of Zuora’s end-to-end monetization technology.”
The acquisition of Togai is expected to close in early May 2024
and is subject to customary approvals and closing conditions. Foros
is acting as financial advisor and Freshfields Bruckhaus Deringer
US LLP as legal advisor to Zuora. QED Corporate Advisors is acting
as financial advisor and Argus Partners as legal advisor to
Togai.
To learn more about Togai, please visit here.
About Zuora, Inc.
Zuora provides a leading monetization suite to build, run and
grow a modern business through a dynamic mix of consumption models,
subscription bundles and everything in between. From pricing and
packaging, to billing, payments and revenue accounting, Zuora’s
flexible, modular software platform is designed to help companies
evolve monetization strategies with customer demand. More than
1,000 customers around the world, including BMC Software, Box,
Caterpillar, General Motors, Penske Media Corporation, Schneider
Electric and Zoom use Zuora’s leading combination of technology and
expertise to turn recurring relationships and recurring revenue
into recurring growth. Zuora is headquartered in Silicon Valley
with offices in the Americas, EMEA and APAC. To learn more, please
visit zuora.com.
Forward-Looking Statements
This press release relates to the pending acquisition of Togai
by Zuora, Inc. ("Zuora", "we", "our" or "us"). This press release
may be deemed to contain forward-looking statements. Words such as
"plan," "continue," “expect” and "will" and variations of such
words and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements involve
risks and uncertainties, including statements regarding Zuora’s
ability to power innovative business models and help companies
accelerate usage monetization, the anticipated timing and impact of
the proposed acquisition of Togai on Zuora’s business, Zuora's
continued investment in innovation, and expected benefits of our
products and the expansion of Zuora's product suite following the
acquisition. There are a significant number of factors that could
cause actual results to differ materially from statements made in
this press release, including: risks associated with Zuora’s
strategies, priorities, or plans taking longer to execute than
anticipated; the effect of the announcement on the ability of Zuora
or Togai to retain key personnel or maintain relationships with
customers; risks that the acquisition could disrupt current plans
and operations; the ability of the parties to consummate the
acquisition on a timely basis; the satisfaction of customary
closing approvals and conditions; and general market, business,
competitive, economic conditions.
Information on these risks and additional risks and
uncertainties that could cause actual outcomes and results to
differ materially from those included in or contemplated by the
forward-looking statements contained in this release is included
under the caption “Risk Factors” in our Annual Report on Form 10-K
for the fiscal year ended January 31, 2024, which is available on
the “Investors” page of our website at https://investor.zuora.com
and on the U.S. Securities and Exchange Commission’s website at
www.sec.gov. Additional information will also be set forth in our
Quarterly Report on Form 10-Q for the quarter ended April 30, 2024,
and other documents that we may file from time to time with the
Securities and Exchange Commission. All forward-looking statements
contained herein are based on information available to us as of the
date hereof. Except to the extent required by law, we do not assume
any obligation to update these statements as a result of new
information, future events, or otherwise.
© 2024 Zuora, Inc. All Rights Reserved. Zuora and Zephr are
trademarks or registered trademarks of Zuora, Inc. Third party
trademarks mentioned above are owned by their respective companies.
Nothing in this press release should be construed to the contrary,
or as an approval, endorsement or sponsorship by any third parties
of Zuora, Inc. or any aspect of this press release.
SOURCE: ZUORA FINANCIAL
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240430174050/en/
Investor Relations: Luana Wolk investorrelations@zuora.com
650-419-1377
Media: Margaret Juhnke press@zuora.com 619-609-3919
Zuora (NYSE:ZUO)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Zuora (NYSE:ZUO)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024