Zuora Inc., a Calif.-based software-as-a-service startup, has raised $6.5 million in Series A funding. Benchmark Capital led the deal, with Benchmark partner Peter Fenton taking a board seat.
Zuora, Inc is a Benchmark funded start-up based in Redwood Shores, CA led by veterans from WebEx, Salesforce.com, Accenture, DiCarta, Postini and Oracle.
Benchmark Capital invest in technology-driven companies that seek to create new markets with significant growth potential. They focus on early-stage investing and take a labor-intensive, service-oriented approach in markets where we have direct experience. These include enterprise software and services, communications & security, semiconductors, mobile computing, consumer services and financial services.
Their investments range in size from as little as $100,000 to as much as $10 or $15 million. Typically, they invest $3 to $5 million initially and expect to invest $5 to $15 million over the life of a company. They invest for the long haul, not ‘quick flips,’ and look for entrepreneurs with a similar perspective.