Rodney Kenneth Drury, born in Wellington, New Zealand in 1966 (59 years old), is a businessman and tech entrepreneur who founded “Xero,” a cloud-based accounting software company for small businesses. The organization has offices in multiple countries, employs more than 4,000 people, and exceeds a market value of 195 billion dollars.
Throughout his professional career, Drury has always been involved in technology companies focused on software services. The first was Glazier Systems, which he sold before the 2000s, significantly boosting his fortune. Advantage Group acquired the Wellington-born entrepreneur’s company for 7.5 million dollars.
Early interest and professional beginnings
Rod’s interest in computer programming began in high school, before he entered university. He studied commerce and administration at Victoria University of Wellington. After completing his studies, he joined the firm Ernst & Young.
Between 1990 and 2000, Drury founded several companies, worked as a consultant, and concentrated on providing accounting software services for small businesses, after noticing how complicated this was for smaller firms. He launched Glazier Systems, his first cloud-focused company, which he later sold for over 7.5 million dollars.
He went on to found another company and was appointed CEO of yet another. By then, his name had already gained significant recognition before creating his technological empire. Looking back, Rod highlighted the challenges of being an entrepreneur in New Zealand: “We are a very small country, and it’s difficult to be an entrepreneur.”
Challenges and Xero, Rod Drury’s legacy
He later added: “There are many opportunities because you can work from anywhere now that we operate in a globally competitive world.” In an interview, Drury drew an analogy about the difference in the number of customers a U.S. company can capture overnight compared to one based in New Zealand.
In 2006, when he founded Xero, Peter Thiel played a key role in building the bridge between the New Zealand tech company and the U.S. market: “The most important thing Peter gave us was direct access to Silicon Valley.” This region, located south of San Francisco Bay, is home to major tech companies, startups, and emerging firms.
Xero was born with the idea of helping small businesses overcome software challenges through cloud accounting and more efficient solutions. Drury went all in, and just a year after its founding, the company went public on the stock exchange. Despite having no sales in that first year, it managed to raise over 15 million dollars, giving the business momentum.
The next major step was international expansion in 2011. Xero entered the U.S. and European markets, marking the arrival of an innovative competitor in the tech industry. In another interview, Rod outlined the trajectory of his career: “In your twenties you gain professional experience, in your thirties you acquire good knowledge, in your forties you move into senior management, and in your fifties you focus more on how to run your own business.”
Cultural influence and environmental commitment
Culture also plays a role in business life, and Rod acknowledges this. New Zealand, a small country in Oceania with a strong presence in renewable energy and an active stance against climate change, “is no longer the same as it used to be,” according to the entrepreneur. However, he clarified that he is doing everything possible to contribute. His goal? “To reach zero carbon emissions.”
The sale of Xero and his current outlook
In 2023, Xero reached 4.2 million customers, with a market valuation of more than 10 billion Australian dollars. This figure, combined with its customer base spread across more than 180 countries, consolidated Drury’s company as a global leader in technology and software. Prior to this, Rod had stepped down as CEO in 2018 and sold nearly 100 million dollars’ worth of shares, representing 13% of the company.
Looking ahead, and established as a leading entrepreneur, Rod Drury advocates for a more sustainable, innovative New Zealand with a strong social commitment to addressing environmental challenges and reducing global pollution. Just as he had the vision that Xero would succeed, he believes the same about his country.
A story of global entrepreneurship
The story of this entrepreneur highlights that major businesses can emerge from anywhere in the world—even from New Zealand, a small nation compared to larger markets.