Zoho, a global technology company based in Chennai, said on Tuesday that it has surpassed 100 million users across its 55+ business applications, becoming the first bootstrapped SaaS company to reach this milestone. This growth comes on the heels of the company reaching $1 billion in annual revenue last year.
Zoho has steadily increased its traction from one million users in 2008 to 100 million 15 years later, with the last 50 million users added within the past five years. “The company is grateful for the enduring support of its more than 700,000 businesses across 150+ countries. India is one of the fastest-growing countries, and the company has witnessed a three year CAGR of 65 per cent in the upmarket segment,” says a release.
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Sridhar Vembu, Co-founder and CEO of Zoho Corp., said in the release, “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 are working towards it, and we want to thank all of you for your continued support.”
Zoho has grown steadily and responsibly without ever taking on external funding. This allows the company to preserve its long-term vision and culture without outside pressure or influence. It’s also what keeps the company centered on its values, such as debt-free growth and serving customers closer to where they are as part of its transnational localism efforts, the release said.