Zoho Corporation, a leading global technology company, announced achieving a rate of 38% year-over-year growth and surpassing the 80 million user mark. In addition to ongoing global expansion, the company continues to grow its product portfolio and make investments in automotive, robotics, and health care technologies. Zoho also celebrated opening 59 new global hub-and-spoke offices in rural areas and small cities over the last two years to expand into new markets and further support local communities.
The announcement, made at Zoho’s annual analyst summit, affirms the company’s commitment to developing resilient solutions that support all businesses, many of which have been negatively impacted by recent economic disruption.
“We’ve long felt that we have a responsibility to the communities and world around us, whether that be through providing job opportunities to those with less access or by delivering products that help businesses grow to their potential,” said Sridhar Vembu, CEO of Zoho Corporation. “Our approach from the start of Zoho—now 26 years ago—still rings true today: nurture people and businesses, and lower the barrier of entry. Cost effective, yet built-for-scale products and regionally located offices aside, Zoho has built its business by being a partner that helps people thrive. Our success is their success and vice versa.”
Zoho has made strategic investments in the areas of automotive, robotics, and health care technology to support the development of and access to advanced solutions by those in need. These include:
· An investment in Silicon Valley-based smart electric utility vehicles and powertrains manufacturer Boson, which focuses on light utility vehicles (LUVs). Boson’s initial focus is on farming, and Zoho shares that focus as it expands into rural areas across the globe.
· An investment in electric motorcycle company Ultraviolette Automotive in partnership with TVS Motor Company, an India-based motorcycle manufacturer. The combined investment totals roughly $15 million and will support the launch of a new, high-performance electric two-wheel vehicle slated for release in 2022.
· A $5 million investment in Voxelgrids, an Indian startup that builds Magnetic Resonance Imaging (MRI) scanners. This is being used to foster development of deep technological capabilities and intellectual property (IP) in the country.
· Forming a consortium of local technology companies based in the Kongu region of India. Through this initiative, Zoho will make a capital investment to set up centers in the region focusing on the research and development of critical technologies for capital goods manufacturing, like machine tools, industrial automation software, and production process know-how.
· A $2.5 million investment in Genrobotics, an Indian startup building robotics and AI-powered solutions for social issues such as hazardous working conditions. Zoho’s investment will assist Genrobotics in its mission to eradicate manual scavenging in India and provide safety and dignity to workers in the sanitation and oil and gas industries.
Innovation and R&D Diversity
Zoho’s investment and innovation philosophies are rooted in the research and development of powerful, unified tools that are customisable to any organisation’s distinct business needs and vision. More than 60% of the company’s workforce is devoted to engineering, both in the development of new technologies and building ways for those apps to complement and integrate with one another. To date, Zoho has developed more than 55 apps, having grown from 40 only two years ago. Though the scope of offerings continues to increase, Zoho’s price does not, and Zoho remains committed to affordability—offering both free and paid versions of every product—and delivering software tailored to the distinct needs of small and medium-sized businesses.
Zoho’s Proven Growth Philosophy: Transnational Localism
Zoho continues to celebrate global expansion through its Transnational Localism effort, first introduced in early 2020 as a means to create self-reliant local communities and economies. Since then, the initiative has grown to include new global offices, local hiring, partnerships with local organisations and government bodies to lower the technology adoption barrier for businesses, upskilling courses in association with educational institutes, language localisation including RTL support for languages like Arabic, and local pricing for several countries. The offices opened as part of Zoho’s Transnational Localism efforts follow a hub-and-spoke model, with larger offices serving as hubs to several dozen small spoke offices located in rural areas and towns around the world. This method of growth allows employees to stay in their hometowns and contribute to their local community while working for a leading, globally recognised technology company.
The company improved access to both software and localised Zoho support, opening 59 hub-and-spoke offices in the last two years. In addition to aggressive expansion into new territories and markets, including Canada, Latin America, the Middle East, Africa, and Southeast Asia, Zoho has announced plans to add 100 new small-scale offices in rural districts across India in the next few years.
Zoho celebrated impressive regional growth, with headcount up 300% outside of India since the start of 2020. It also aims to hire at least 2,000 employees across engineering, technology, and product development, particularly software developers, quality assessment engineers, web developers, designers, product marketers, writers, technical support engineers, and sales executives within the next year.