The investment by Insight Partners will accelerate the vision and expansion of the Zone Apps platform, built for the Oracle NetSuite ecosystem.
Zone & Co, the company behind the NetSuite-native billing and revenue recognition solution ZoneBilling, announced that it has closed a $76 million growth equity investment with New York-based global private equity and venture capital firm Insight Partners. The company empowers its customers, typically hyper-growth companies with complex monetization models, to manage financial operations, data, and technologies as they scale from startup to enterprise.
Zone & Co is a premier Solution Provider and SuiteCloud Developer Network partner of Oracle NetSuite with an established market presence around the globe. The funding enables Zone to develop new advanced NetSuite products and exponentially expand its market reach to bring unparalleled efficiency and automation to NetSuite customers in almost any industry.
Read More: Vistex Achieves POI Best-In-Class 2021: Foodservice, HQ Planning And Dashboards
The company’s products, including ZoneBilling, address the significant lack of order-cash-revenue software built for both extreme flexibility and rapid scale that isn’t separate from other critical financial data within the ERP. As a native NetSuite SuiteApp, ZoneBilling data connects directly into existing NetSuite records and workflows, eliminating dangerous silos in the lead-to-revenue process while eliminating the need for multiple systems to manage financials, billing, and revenue. Unified financial, billing, and revenue data also allows businesses to standardize reporting, access, and workflows across multiple entities, unlocking new efficiencies while lowering risk and costs.
Derek Zanga, CEO of Zone & Co, says that modern monetization software is broken. “Companies are wasting significant resources when they work in disparate platforms, develop proprietary billing systems, or manage countless spreadsheets for their lead-to-revenue processes,” says Zanga. “It’s difficult to grow when financial data feels like it’s all over the place. Building inside the best cloud ERP gives us an unparalleled opportunity to change the way businesses deliver innovative billing and revenue models at scale.”
The success of ZoneBilling has attracted NetSuite veterans, partners, and customers alike, growing ZoneBilling into an emerging global leader in lead-to-revenue software. Current and future Zone Apps built for NetSuite will open new doors for organizations to deliver competitive solutions with agility no matter how unique the strategy.
Read More: SalesTechStar Interview With Rachel Obstler, Head Of Product At Heap
“Insight was impressed by Zone & Co’s ability to solve complex challenges faced by NetSuite businesses who need to deliver solutions rapidly, especially in this unprecedented time of uncertainty,” said John True, Operating Partner at Insight Partners. “Zone’s mastery of developing agile, scalable software using NetSuite as a platform is unmatched in the market. Not only are we excited about the potential of Zone & Co to disrupt the lead-to-revenue software industry, but also the company’s unique capability to expand the NetSuite ecosystem with innovative products like ZoneBilling.”
“Ultimately our vision is to enable businesses to grow without being limited by the complexities of their business model. We believe if you can think of it, you should be able to deliver it. Your software shouldn’t hold you back,” said Zanga. “Partnering with Insight Partners and continuing to expand our portfolio in NetSuite allows us to grow that vision without boundaries and bring this essential all-in-one solution to businesses across the globe.”
Read More: When You Can’t Be There In Person, Voice Tech Is The Next Best Thing