Zuora’s $1 Million Contribution to Zuora.org Will Increase Access to More Equitable Opportunities

Rhea-AI Summary

Zuora, Inc. (NYSE: ZUO) announced a second $1 million stock contribution to Zuora.org to support nonprofits focused on underrepresented communities. CEO Tien Tzuo emphasized the responsibility to promote inclusivity within the Subscription Economy. The 2020 Impact Report highlighted $872,711 granted to over 50 organizations and notable contributions towards racial equity and community stability. New Director of Social Impact, Rachael Claudio, aims to enhance access to subscription-based opportunities.

Positive

• Second $1 million stock contribution to Zuora.org enhances commitment to social impact.
• $872,711 granted to over 50 organizations supports educational and economic opportunities.
• New Director of Social Impact appointed to lead initiatives aimed at inclusivity.

Negative

• None.

Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced that its second $1 million stock contribution to Zuora.org, the company’s philanthropic arm, will support nonprofits dedicated to increasing opportunities for underrepresented communities and connecting the next generation of diverse talent to sustainable careers that allow them to earn a living wage.

At Zuora, we believe the World Subscribed is a better world. By facilitating access over ownership, the Subscription Economy® has the ability to democratize goods and services for all. However, it’s not guaranteed that every individual is able to unlock the benefits of the Subscription Economy on their own.

“We have a responsibility to ensure that the Subscription Economy is an inclusive economy; that what we’re pioneering enables accessibility and participation for all within their local communities,” said Tien Tzuo, CEO and Founder of Zuora. “Building on all that we have previously accomplished, this $1 million Impact Fund seeks to create economic opportunity for individuals and communities that have been historically underrepresented.”

Zuora.org’s activities from last year are highlighted in the 2020 Impact Report. During the last year, Zuora’s monetary donations focused on building more equitable educational structures, providing innovative workforce development solutions, supporting entrepreneurs from underrepresented groups, and addressing the most pressing issues in Zuora’s local communities.

Zuora.org 2020 social impact by the numbers:

• $872,711 granted to over 50 organizations.
• Climb Hire, dev/Mission and Upwardly Global selected as the first strategic nonprofit partners.
• $65,000 contributed to organizations working to advance racial equity for Black people: Bail Project Inc, NAACP Legal Defense and Educational Fund, NAACP Empowerment Programs, and Black Lives Matter Global Network Foundation.
• $254,500 awarded in Community Impact grants to organizations helping their constituents find stability and economic mobility in very uncertain times: Aruwe, Farming Hope, Hack the Hood, Hospitality Helps, Monthly Miracles, NPO e-Education, Oasis for Girls, Open Heart Kitchen of Livermore, SFMade, Tri-Valley Haven for Women.
• $60,485 given to 21 organizations through an employee driven grant program.
• 488 volunteer hours donated and $18,000 raised by ZEOs to support non-profit organizations during Zuora’s first Global Week of Giving.
• Zuora named a San Francisco Business Times Top 100 Philanthropist.

To lead the future of the Zuora.org program, Zuora hired Rachael Claudio, Director of Social Impact. She said, “I am thrilled to join Zuora on its mission to increase access to the Subscription Economy -- for everyone. That’s why we’re dedicating our work at Zuora.org to uplift economic and educational opportunities for youth and adults who are disconnected from the benefits of today’s digital world. I look forward to working with our current partners and building new programs to help close this gap.”

Funds from Zuora’s second $1 million stock contribution to Zuora.org are administered through the Tides Foundation. For more information, please visit www.zuora.org.

About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process seamlessly across billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

© 2021 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.

SOURCE: Zuora Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005315/en/

FAQ

What did Zuora announce regarding its stock contribution on April 7, 2021?

Zuora announced a second $1 million stock contribution to Zuora.org to support nonprofits focused on underrepresented communities.

What is the purpose of Zuora's philanthropy through Zuora.org?

The purpose is to increase opportunities for underrepresented communities and connect diverse talent to sustainable careers.

What was highlighted in Zuora's 2020 Impact Report?

The report highlighted $872,711 granted to over 50 organizations with a focus on educational and workforce development.

Who is the new Director of Social Impact at Zuora?

Rachael Claudio has been appointed as the new Director of Social Impact at Zuora.

How does Zuora contribute to racial equity?

Zuora contributed $65,000 to organizations working towards racial equity, including support for significant initiatives like the NAACP.