Now a $1 billion firm, Zoho announces new R&D investments

Indian business software major Zoho Corporation Tuesday announced it had crossed the $1 billion milestone in annual revenue, driven by its diversified product portfolio.

At Zoholics India, the company’s annual user conference, the company also announced new investments in R&D, with plans to open 100 network PoPs (point of presence) around the world in the next five years and also to double investment into technologies like blockchain and AI.

“At Zoho, we have always believed that technologists should practice more humility. After all, we cannot code more food, nor compile new energy,” said CEO and Co-founder Sridhar Vembu, adding that the recent developments in our industry amidst a backdrop of rapidly deteriorating global economic outlook “are a rude reminder of our own limits as technologists”.

Marketed as “the operating system for business,” Zoho One, the company’s suite of business apps, now supports over 50,000 organisations in more than 160 countries. The suite is a centralised portal meant to handle the wide needs of an organisation and includes over 35 apps.

Along with Zoho One, the company said customer experience platform CRM Plus, HR management platform Zoho People, enterprise collaboration platform Zoho Workplace and GST-compliant accounting software Zoho Books were getting the most traction in India. These products have upped the company’s annual revenue in India by 77% in 2021.

 

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