Co-Founder and Former CEO of Portal Software Invests in Aria Systems and Joins Board
PHILADELPHIA, PA - May 19, 2008 — Aria Systems,the leading provider of on-demand billing and customer management solutions, announced today that Dave Labuda, co-founder and former CEO of Portal Software and former CTO of Oracle’s Communications Global Business Unit, has invested an undisclosed sum in Aria Systems and joined Aria’s board of directors.
“Dave Labuda created a world class billing and revenue management solution with Portal Software - his experience will translate well in helping Aria Systems expand its position as the leading on-demand billing and customer management platform provider,” said Edward Sullivan, CEO of Aria Systems.
Labuda will join Mark Gorenberg, Managing Director at Hummer Winblad Venture Partners and Howard E. Goldberg, Entrepreneur-In-Residence at Internet Capital Group, on Aria’s board of directors.
“The market for on-demand billing is exploding, “ said Labuda. “Aria Systems is the only provider with years of proven operational experience and the broad functionality required to satisfy the increasingly complex needs of subscription-based businesses. I am thrilled to join the Aria team at this pivotal moment as they expand their lead in this exciting new market.”
Dave Labuda co-founded Portal Software in 1994, creating the first real-time billing and revenue management solution for internet and communications service providers. As CTO, he led the architectural design and product strategy of the company. After stepping into the CEO role in 2004, he successfully sold the company to Oracle in 2006. Dave then served as CTO of Oracle’s Communications Global Business Unit until February 2008, providing architectural vision for the new organization and acting as a key advisor on several strategic acquisitions. He holds Bachelors and Masters Degrees in Computer Engineering from Case Western Reserve University and has 10 patents issued with several more pending.
About Aria Systems
Aria Systems is the leading provider of on-demand and subscription billing solutions encompassing the full spectrum of Billing and Customer Lifecycle Management services. The A+ Billing Platform offers clients the industry's most secure, flexible, and scalable tool for accelerating revenue capture, optimizing cash flow, and enabling actionable market intelligence while significantly reducing operating costs throughout each phase of the customer lifecycle.
Aria is the SaaS billing leader in terms of experience, execution, and reliability. The company has handled over one million accounts, and managed more than one billion transactions, since its inception in 2003. Additionally, Aria leads the market in security and compliance having achieved both end-to-end level one PCI Compliance and SAS70 compliance.
Aria's executive team has over 80 years combined experience in billing and 50 combined in SaaS, and is backed by investments from Hummer Winblad Partners, Venrock, and Dave Labuda, former CEO of Portal Software (acquired by Oracle). The company is headquartered in Media, Pa. (metropolitan Philadelphia), and has offices in the San Francisco bay area.
Media Contacts
Kevin M Jackson
Aria Systems
+1 484 234 8000