Zoho becomes the first bootstrapped SaaS company to cross 100 million global users

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Zoho, the global software-as-a-service (SaaS) company, announced on Tuesday that it has reached a significant milestone, surpassing 100 million users across its extensive portfolio of over 55 business applications. This impressive growth journey saw Zoho evolve from 1 million users in 2008 to an astounding 100 million users over a span of 15 years, with the last 50 million users joining the platform in just 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, Zoho. 

Operating in more than 150 countries, Zoho currently serves over 700,000 businesses worldwide. The company has experienced a remarkable three-year compound annual growth rate (CAGR) of 65 percent in the upmarket segment. Notably, the mid-market and enterprise sector now contributes to over 50 percent of Zoho’s annual recurring revenue (ARR) in India.

Zoho is renowned for its suite of online office applications and offers a comprehensive set of tools, including customer relationship management (CRM), project management, and social media management, among others. Some of Zoho’s esteemed customers encompass startups like BYJU’S, MakeMyTrip, BigBasket, Paper Boat, Zomato, as well as established brands such as Star Health & Allied Insurance, PUMA, Mercedes-Benz India, Axis Finance, SpiceJet, Samsonite, IIFL Finance, Blue Star, Tata Play Fiber, Bosch, Saint-Gobain, Deloitte, and McDonald’s.

In addition to its core offerings, Zoho recently introduced ‘Ulaa’, a privacy-centric web browser designed to safeguard user data by blocking trackers and website surveillance. Zoho Corp made waves when it unified all its applications onto a single platform and marketed it as Zoho One. Impressively, Zoho Corp stands out as one of the few profitable Indian cloud software companies.

Zoho’s growth has been characterized by a steady and responsible approach, notably, it has never relied on external funding. This unique strategy allows the company to maintain its long-term vision and corporate culture, free from external pressures or influences. This steadfast commitment aligns with Zoho’s core values, emphasizing debt-free growth and a customer-centric approach, reflecting its dedication to transnational localism efforts.

Despite potential challenges posed by the introduction of OpenAI’s ChatGPT Enterprise features, which could impact various B2B SaaS companies, including Zoho, the company remains enthusiastic about its AI journey. Zoho, unlike many other SaaS companies, did not resort to employee layoffs during the adoption of generative AI.

Sridhar stated “At Zoho, we hold the belief that AI can take over certain roles, but the significance of people remains unchanged. This perspective reflects the core philosophy of our organization,” showcasing the company’s forward-thinking approach.

With a steadfast focus on customers, values, and innovation, Zoho continues to shape the future of business software while embracing the transformative potential of AI. Zoho plans to celebrate this milestone with its customers during the Zoholics Conference. 

Image credit: Freepik

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