Zuora Rings Up $20 Million For Billings-As-A-Service Platform

Zuora, a SaaS startup that offers online services to manage and automate customer subscriptions and payments, has raised $20 million in Series C funding led by Redpoint Ventures with the startup's existing investors; Benchmark Capital , Marc Benioff , Shasta Ventures and Tenaya Capital , also participating in the round. To date, the company has raised $41.5 million in funding. Launched in 2008, Zuora’s cloud-based billings platform aims to alleviate the need for online businesses to develop their own billing systems, especially to handle recurring payments like those associated with subscriptions.