Rapid growth for Xero in Australia
Announcement posted by Bench PR 03 Apr 2012
April 3rd, Melbourne, Australia – Xero accounting software today announced that it has nearly tripled its customer base in Australia, growing from 6,000 paid customers to over 16,000 in the past 12 months.
Group operating revenue has doubled in the same time period from A$7.3m to over A$15m and the number of staff employed globally has risen from 113 to 194. In Australia, the Xero team has grown from six staff in March 2011, to 32 today.
In July 2011, Xero acquired online payroll provider Paycycle for A$1.5m and recently acquired software developer Max Solutions for A$4.7M - the company behind job, time and invoice management solution WorkflowMax.
“Xero has experienced phenomenal growth in Australia over the past year as more small businesses and their accountants embrace the cloud. There is a very real and growing demand for an alternative to spreadsheets and cumbersome, traditional, accounting desktop packages in Australia, as our recent roadshow demonstrated. We look forward to increasing our market share further in 2012,” said Chris Ridd, managing director, Xero, Australia.
Over the past 12 months, Xero has opened new offices in Melbourne, Canberra Auckland, Wellington, Milton Keynes and San Francisco.
Doubling of customer growth across regions
| Paying customers by segment | At 31 March 2011 | At 31 March 2012 | Year on year change |
| New Zealand | 23,000 | 47,000 | 104% |
| Australia | 6,000 | 16,000 | 166% |
| United Kingdom | 5,000 | 11,000 | 120% |
| United States/Global | 2,000 | 4,000 | 100% |
About Xero
Xero is beautiful accounting software designed for small business and their advisors. The company has over 78,000 paying customers in more than 100 countries, with teams established across Australia, New Zealand, the UK and the US. In Australia, Xero has formed strategic marketing partnerships with Telstra and ANZ.