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Aria Systems Completes $10 Million in Series B Funding

Leader in SaaS Billing Looks Ahead to Launch of its A+ Billing Platform

Media, PA, December 8, 2008 — Aria Systems Inc. (http://www.ariasystems.com), the leading provider of on-demand subscription billing and customer lifecycle management, today announced that it has secured $10 million in Series B venture funding, led by Venrock and joined by Aria Systems’s initial investors Hummer Winblad Venture Partners and Dave Labuda. Aria Systems will use this money to accelerate the development of its industry-leading A+ Billing Platform, the first and only enterprise-class billing platform offered in a highly flexible Software-as-a-Service (SaaS) based environment.

“Aria Systems has created an impressive SaaS billing and CRM platform that addresses the needs of businesses, small and large, looking to manage their customer relationships and financial transactions,” said Ray Rothrock, managing general partner, Venrock. “Its billing and customer lifecycle management platform allows companies that don’t want to, or can’t, invest in costly software and related IT and finance subject matter experts the opportunity to control the complex billing associated with their subscription or recurring purchases.”

With this round of funding, Rothrock will be joining Aria Systems’s Board of Directors. Rothrock joined Venrock in 1988 and has been actively involved in more than forty investments for the firm. He presently serves on the public board of Check Point Software and a number of private company boards, including CoreTrace, Imperva, PGP, RedSeal Systems and Transonic Combustion. In addition, he serves on the Board of Trustees of the Texas A&M Foundation, where he chairs the investment committee, as well as the Visiting Committee of the MIT Nuclear Science and Engineering Department.

Aria Systems has managed over one million accounts over the past five years by helping SaaS, technology, entertainment, gaming and non-profit companies control their finances, billing and marketing procedures. They have done so by converting complex legacy billing systems to straight-forward, efficient subscription management processes for large enterprises, while overseeing subscriptions and reporting for smaller companies. Aria’s approach is unique. The company takes a holistic view to managing subscription-based billing – recognizing that the customer experience begins before and continues after payment collection, into the entire lifecycle of a customer experience with the company. No other on-demand or subscription-based billing company provides its customers as broad and deep a billing and marketing solution.

“Today’s investment signifies the tremendous confidence that Venrock has in our ability to continue developing the most advanced on-demand billing and customer lifecycle management solutions,” said Ed Sulivan, CEO, Aria Systems. “With this investment, we intend to accelerate the development of our A+ Billing Platform to meet the increasing demand to manage SaaS subscription billing, while making it even easier for customers to mine the potential in their billing and transaction data.”

In September, Aria Systems announced a record third quarter that saw sales bookings double those from the second quarter and quadruple those from the first quarter. Since its launch in 2003, the company has processed more than one billion transactions for the million accounts it maintains and manages for its customers.

About Aria Systems

Aria is the market leader in subscription and recurring billing solutions. Since 2003, Aria has managed over one million accounts in more than 195 countries. Aria’s Billing Platform is the billing industry’s most reliable, flexible and scalable on demand tool for accelerating revenue capture while significantly reducing operating costs. Additionally, having achieved end-to-end Level 1 PCI Compliance and SAS70 Certification, Aria Systems leads the market in security and compliance. Backed by Hummer Winblad Venture Partners, Venrock Associates and Dave Labuda, Founder and former CEO of Portal Software, Aria’s team of SaaS and billing experts are part of a company that billed over 2.5 million customers for $1 billion a year in transactions. Aria Systems is headquartered in Media, PA (metropolitan Philadelphia) and has offices in the San Francisco Bay Area (San Mateo, CA). Aria Systems has been ranked as the 5th fastest growing, privately held company in the Philadelphia region by the Philadelphia 100. For more information about Aria Systems, visit http://www.AriaSystems.com or call 1-877-755-2370.

Media Contacts

Joy Larkin
Marketing Director
jlarkin@ariasystems.com
484-234-8000 x226
http://www.AriaSystems.com
http://twitter.com/betterbilling