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Business EconomyPosted at: Jun 14 2023 3:34PM


Zoho announces over 65 pc CAGR upmarket growth in India

Bengaluru, June 14 (UNI) Zoho, the Chennai-headquartered global technology company, on Wednesday announced investments across its entire portfolio to accelerate upmarket momentum, following an impressive three-year period where Zoho in India achieved over 65 per cent compound annual growth rate (CAGR) in ARR within the mid-market and enterprise segment.
Notably, the mid-market and enterprise segment now accounts for more than 50 per cent of Zoho's ARR in India.
Zoho also witnessed a 65 per cent 3-year CAGR within the mid-market and enterprise segment globally; this segment now represents one-third of the entire business.
Overall Zoho now serves over 90 million users across more than 600,000 businesses. "Our humble roots in SMB have helped us systematically build powerful software with strong everyday usability," said Sridhar Vembu, Co-founder and CEO, Zoho Corporation.
"With our strong DNA as a technology platform company, we have been able to steadily improve our maturity and readiness for large organisations by making the necessary investments. Zoho aims to be the most seamless enterprise software vendor in the market by focusing on extensibility, usability, packaging, and go-to-market solutions."
Zoho's upmarket growth in India is led by banking, financial services and insurance (BFSI), manufacturing, retail, fast-moving consumer goods (FMCG), pharmaceuticals, and IT sectors. Some of our 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, McDonald's among others.
The company is also actively collaborating with state and central government departments and PSUs to support their digitalisation efforts. Through these strategic partnerships, Zoho is contributing to the modernisation of the public sector and driving digital innovation.
"At Zoho, we are proud to be the trusted partner for businesses across diverse industries in India. Our commitment extends to fostering inclusive growth, including sectors critical to the nation's economic fabric and empowering organisations to thrive in the digital age. By addressing the unique needs of Indian enterprises and government entities, our customisable solutions actively contribute to the digital transformation of the country," added Vembu.
Zoho has hired customer-facing teams and opened offices in Delhi, Mumbai, Kolkata, Bengaluru and Hyderabad to enhance account management capabilities and cater to the specific needs of large organisations.
In line with Zoho's commitment to enhance customer experience and drive success, the company has announced strategic investments targeted at mid-market and enterprise businesses.
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