Aria Systems Raises $40M in Funding Round

Aria (News - Alert) Systems, a provider of cloud-based subscription and billing solutions, has raised $40 million in a recent funding round led by Bain Capital Ventures. This round, the company’s fourth to date, brings total funds raised to $83 million. Other companies that participated in this funding round include existing investors Hummer Winblad (News - Alert) Venture Partners, InterWest Partners, Tugboat Ventures, Venrock and VMware.

According to Bain Capital Ventures Managing Director Salil Deshpande, recurring revenue business models — whether subscription, usage, tiered service or real-time, on-demand consumption-based — are changing the way business is done. Indeed, such models are now estimated to make up a market worth $300 billion. Within this market, Deshpande believes Aria’s cloud commerce solution to be the best in its class.

Deshpande’s faith in Aria Systems seems justified, as the company has done a lot to expand and improve upon its offerings. For example, earlier this year, Aria introduced new Business Process Automation (BPS) capabilities, giving customers the ability to create, test and deploy customized workflows in a single SaaS (News - Alert) environment.

"Our investors know this space and its potential," said Tom Dibble, CEO of Aria Systems, in a statement. "Recurring revenue in its many forms is fast becoming an essential component of successful businesses across industries and around the globe. This round of funding will allow us to further invest in advancing the most innovative cloud solution for recurring revenue and expand our global customer success operations to ensure that we continue to delight our customers as we grow."

When it comes to straightforward recurring revenue management, Aria provides a key component with its sophisticated, multi-service, cloud-based hub. This hub allows enterprises to offer their customers a variety of ways to connect with their products and services, including by subscription, usage, prepaid, tiers or “freemium”

Furthermore, Aria’s services facilitate support across the entire customer relationship and can be integrated with popular business applications from the likes of Salseforce.com, NetSuite, SAP (News - Alert) and Oracle.