Zoho Exceeds 100 Million Users, Sridhar Vembu Says 'not done yet' By CIOTechOutlook Team

Zoho Exceeds 100 Million Users, Sridhar Vembu Says 'not done yet'

CIOTechOutlook Team | Tuesday, 05 September 2023, 09:51 IST

Zoho, a global software-as-a-service (SaaS) provider, said that it had reached 100 million users across its more than 55 business products. The expansion follows the company's achievement of $1 billion in yearly revenue last year. Zoho claims to have grown its user base from 1 million in 2008 to 100 million now, with the final 50 million acquired in the previous five years.

“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,” said Sridhar Vembu, Co-founder and CEO, 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 over 700,000 enterprises spread over 150 countries. India is one of the fastest-growing markets, with the firm seeing a three-year CAGR of 65% in the premium sector. Notably, in India, the mid-market and enterprise segments now account for more than half of Zoho's annual recurring revenue (ARR).

Zoho, headquartered in Chennai, is a privately held and prosperous company with over 15,000 workers.