FinovateSpring 2011 / Xero
Presenter Profile:
How they describe themselves: Xero is an innovative, fast growing company that has developed and designed a global online accounting system for SME businesses and their advisors. The company was founded in July 2006 by successful technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards, and is listed on the New Zealand Stock Exchange (NZX: XRO). Xero has strategic partnerships with banks and teleco providers in its core geographies of New Zealand, Australia, the UK and the United States. In December 2010 Xero was ranked 8th in Deloitte’s Asia Pacific Fast 500.
How they describe their product/innovation: Xero is the world’s easiest online accounting system, designed to take the drudgery out of doing the books, making it fun, simple and intuitive. It is a leader in the online accounting space and has embraced the next phase where thousands of small businesses are now on connected platforms. Xero will demonstrate a series of 7 innovations in 7 minutes. This will include fast cash coding, address verification, debtor and creditor workflow, accountants directory, final account report codes and personal goal setting.
Contacts:
Bus. Dev., Sales & Press: Rod Drury, Chief Executive/Executive Director, rod.drury@xero.com
Website: www.xero.com
Blog: xero.com/blog
HQ Location: Wellington, New Zealand
Company Founded: July 2006
Product Being Demoed: Business Identification
Product Launched: April 2011
Metrics: $35M USD raised to-date, 101 employees, 30,000 paying customers in 50 countries and annualized revenues ramping up – now at $6.81M USD ($2.27M USD prior year)
- Key Executives
Rod Drury (Chief Executive/Executive Director), Alastair Grigg (COO), Paula Jackson (General Manager Marketing), Paul Williams (General Manager Finance)
Key Stats
- Key Board Members
Phil Norman (Chairman), Rod Drury (Chief Executive/Executive Director), Hamish Edwards (Executive Director), Sam Knowles (founding CEO of Kiwibank), Sam Morgan (Trademe founder), Graham Shaw (chartered accountant ex KPMG), Craig Winkler (co-founder of MYOB)
- Key Advisory Board Members
Peter Thiel (Founder of PayPal, founding investor in Facebook), Andy Lark (VP Global Marketing, Dell)
- Key Investors
Peter Thiel (Founder of PayPal, founding investor in Facebook), Craig Winkler (former CEO and Founder, MYOB)
- Key Partnerships
Bank of New Zealand, Telstra, ANZ, Telecom NZ, BT