Zoho, a global SaaS technology company, announced on June 14th that it has achieved more than a 65% compound annual growth rate (CAGR) in annual recurring revenue (ARR) in India within the mid-market and enterprise segment. This impressive growth rate has been achieved over a three-year period, due to Zoho’s investments in its portfolio to accelerate upmarket momentum. Notably, the mid-market and enterprise segment now account for more than 50% of Zoho’s ARR in India. Overall, Zoho serves over 90 million users across more than 600,000 businesses.
Zoho’s upmarket growth in India is being led by the banking, financial services and insurance (BFSI), manufacturing, retail, fast-moving consumer goods (FMCG), pharmaceuticals, and IT sectors. Some of Zoho’s customers include MakeMyTrip, PUMA, Axis Finance, Paper Boat, Samsonite, BigBasket, Tata Play Fiber, BYJU’S, Star Health & Allied Insurance, Mercedes-Benz India, SpiceJet, IIFL Finance, Meril Life Sciences, Blue Star, Bosch, Zomato, Saint-Gobain, Deloitte and McDonald’s.
By addressing the unique needs of Indian enterprises and government entities, our customizable solutions actively contribute to the digital transformation of the country, said Sridhar Vembu, Co-Founder and CEO, Zoho Corporation.
Zoho has opened offices in Delhi, Mumbai, Kolkata, Bengaluru, and Hyderabad, and hired customer-facing teams to enhance account management capabilities and cater to the specific needs of large organizations.
Our humble roots in SMB have helped us systematically build powerful software with strong everyday usability. With our strong DNA as a technology platform company, we have been able to steadily improve our maturity and readiness for large organizations by making the necessary investments, added Vembu.
Zoho is a privately held, profitable company with more than 12,000 employees.
