BENGALURU: Tech firm Zoho has crossed USD 1 billion in annual revenue, with India leading the growth. India’s annual revenue increased by 77% in 2021.
“While growth has slowed down quite a bit in 2022 over 2021, our diversified product portfolio and the fact that we save money for customers has helped us so far,” said Sridhar Vembu, CEO and Co-founder, Zoho Corp. on the sidelines of Zoholics India, the company’s annual user conference on Tuesday.
“Unfortunately, recent developments in our industry amidst a backdrop of rapidly deteriorating global economic outlook, are a rude reminder of our own limits as technologists,” he added. The Chennai-headquartered company also announced its plans to open 100 network PoPs (point of presence) across countries in the next five years for providing users with a faster network. It also announced doubling investment for technologies such as blockchain and artificial intelligence.
Zoho, which spends three times its marketing spend on R&D, attributes its growth to strong R&D capabilities across categories and markets, its diversified portfolio, and to businesses choosing unified offerings over single products. “Our R&D focus in the coming years is to further unify our technology stack so that we are able to elevate the user experience,” said Vembu. It is seeing uptake of products across different categories, with the top offerings in India including Zoho One, CRM Plus and the finance suite led by Zoho Books.
The company is also working on adding Indian language support for its AI and blockchain technology for universal validation. Zoho runs its own data centres. At present there are 12, including two in India. It has around 14 network PoPs that run its proprietary software. Zoho, which is profitable with more than 11,000 employees, also has over 150 monitoring PoPs that enable users to monitor functioning of their websites.
