Firstly, we are delighted with the outcome of our most recent investment round announced on Tuesday. We welcome (back) our existing investors, as well as our new investors, Bain Capital Ventures and VMware. We couldn’t be more pleased with all aspects of this round: the participants, the terms, the overarching validation it stamps on our success to date, and of course, what lies ahead. But most importantly, the primary beneficiary of this round will be our customers. Furthermore, the primary reason this round came together as well as it did is due to our customers. So a humble thank you from the Aria team to both our investors and our customers for your belief in Aria, and your conviction that we are just scratching the surface on the potential for our technology in today’s recurring world.
Most startups begin as “science experiments” whereby, per classic scientific method, they conduct research, hypothesize a market opportunity, test it, analyze the results and draw a conclusion. The founders behind those startups don’t know if their idea can be converted into a sustainable business model, and nine times out of ten, the answer is “it can’t.” Very often, after this sequence runs its course, it’s concluded that the hypotheses is a bust, and the company eventually disappears. These are the 90% that get quietly buried and we don’t read about in the press. This methodology is particularly challenging when targeting the enterprise market vs. the consumer market. In consumer-oriented markets, one can create a slick new app or site with relatively low overhead, and hope it goes viral and hits the lotto. Meanwhile, to prove out an idea in the enterprise market, one cannot cut corners and do it on the cheap, especially when aspiring to provide something as mission critical as recurring revenue management. The dynamics of enterprise endeavors are much more akin to a marathon vs. a sprint.
But some companies do cross this chasm in the enterprise space. They conclude from their testing that there is very much a market need, and they then go on to demonstrate with real proof points (aka buyers), that their solution provides value. Aria is one company that has made this leap.
It is no longer hypothetical; the enterprise adoption of Aria over the last 24 months has been astonishing. When you look at our customer list, firms like Deutsch Telekom, Experian, Ingersoll Rand, Pitney Bowes, VMWare, Audi, Philips, Adobe and Verizon, you can see that we’re on to something very big, and that something big is Aria’s ability to unleash the power of recurring revenue to transform a business. The types of business models that we are enabling range from next generation telco and cloud services to automotive and medical devices. There are many more examples across both B2C and B2B markets, with the common denominator being the creative ways that Aria’s platform is being used to drive growth and gain competitive advantage. This is manifested in innovative strategies around pricing, packaging, bundling, promoting, analytics, and a whole host of automated workflows, notifications, and business logic that elegantly orchestrate the many moving parts of a recurring business.
Coming full circle to tie this back to our funding announcement – our mantra at Aria has been and will continue to be that our customer’s success will ultimately drive our success. And the two key ingredients for Aria to enable this success are product innovation and customer support, both of which allow this creativity referenced above to be fully realized. Hence, the primary uses of our new investment will go towards ensuring we continue to have the most innovative cloud-based recurring revenue management product on the planet, and that our customers are wildly successful in deploying it to make their recurring businesses thrive.
As we scale our business we will continue to have these core values as the true north of our “investment compass.” We remain certain that navigating to this course will create more and more success for our customers and, in turn, Aria. The Aria team looks forward to partnering up with many more enterprise companies to make their success a reality, and not merely a hypothesis.
– Tom Dibble
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