REDWOOD CITY, Calif.--(BUSINESS WIRE)--Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced that the Zuora Impact Fund, through Zuora.org, the company’s philanthropic arm, is now accepting applications for its first public grant cycle, through May 31, 2020.
Zuora is seeking to fund organizations that align with the goal of this grant cycle: to support the communities where its employees live and work. Zuora will make strategic grants to global nonprofits and social enterprises focused on creating more equitable and prosperous communities, including those which strengthen educational foundations, create innovative workforce development opportunities, and stimulate local economies.
“At Zuora we know that we can only succeed if our employees and communities are thriving. Given the current COVID-19 crisis, organizations are changing the way they reach and support their constituents, and we want to help accelerate that work. While we’ve had this grant cycle planned for some time, launching now couldn’t be more critical,” said Rory Ihlamur, Director of Zuora.org.
In response to the COVID-19 pandemic, Zuora joined the COVID-19 Tech Collaborative, a collective of 25 Bay Area based companies, to immediately disperse an initial $22 million in collective funding to those most impacted. And, through Zuora.org, employees are engaged in virtual volunteer opportunities around the world.
“The Subscription Economy is having a tremendous impact on society. As consumers shift their preference from ownership to usership, everything will eventually become a service. At Zuora, we want to not only support the businesses making this shift, but do our part to ensure that the opportunities of this new economy are accessible to everyone,” said Tien Tzuo, CEO and Founder of Zuora. “The mission of Zuora.org is to ensure that the Subscription Economy benefits individuals and communities, as much as it does businesses.”
In an effort to create more inclusive economies, last year Zuora committed an initial $1,000,000 to provide funding to organizations that are working tirelessly to help bridge socioeconomic opportunity gaps. The company’s philanthropic arm, Zuora.org, will use the funds to fuel two initiatives: the Zuora Impact Fund which invests in mission-aligned nonprofits and social enterprises and employee-driven volunteer and fundraising activation.
This work is the actualization of Zuora’s commitment to the Pledge 1% movement, in which Zuora will allocate 1% of equity and employee time to philanthropic endeavors.
Recipients of the first public grant cycle will receive grants ranging from $10,000 - $50,000 to put their plans into action. Zuora will accept applications through May 31, 2020 and will announce recipients later this June. For more information on how to apply, or to read more about Zuora’s philanthropic work, visit Zuora.org.
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription Order to Revenue process seamlessly across billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
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SOURCE: Zuora Financial