Latest capital infusion enables company to meet increased demand and support major enterprise customers
San Francisco, CA – December 11, 2018 – Aria Systems, the leader in enabling large enterprises to accelerate subscription- and usage-based revenue initiatives, today announced that the company has raised an additional $30 million from existing investors and Runway Capital. The additional capital allows Aria to build on its success in penetrating an enormous global market and to make further investments in strategic areas of the business that support the company’s growing roster of enterprise customers. Additionally, this capital infusion solidifies Aria’s path to being cash-flow positive with continued strong growth in 2019.
“This latest round of investment is further validation of Aria’s success and growth prospects as we continue to partner with major global enterprises seeking a modern billing and subscription management solution” said Tom Dibble, President and CEO of Aria Systems. “Our platform has repeatedly proven to be the only true enterprise-grade cloud offering that supports the size and complexity of some of the world’s largest and most innovative companies. As a result, we’re experiencing a remarkable increase in adoption of our platform from enterprises embracing recurring revenue business models as the new operational standard.”
Aria’s business is on track to achieve 60 percent growth in 2018, fueled by new customers and strong growth from existing customers who are expanding their use of its platform. This organic growth has resulted in a 110 percent net retention rate for the year. Aria has recently secured new and expanded deals in the software, financial services, telecommunications and automotive sectors, with blue-chip brands including Allstate, Audi, Comcast, Telstra and Twitter. As demand for the Aria solution spreads across industries, the company continues to develop vertical-specific offerings, including the recently launched Aria Media and Publishing Suite, designed to address the requirements unique to media and publishing companies, such as Amedia and De Persgroep.
Aria’s cloud-based billing solution helps companies advance their recurring revenue strategies by enabling the digital transformation of existing businesses as well as the launch of new ones. Aria’s platform is architected to peacefully coexist alongside legacy, on-premise systems as well as newer, cloud-based systems. Being complementary with different systems enables customers to nimbly roll out innovative monetization models for existing, new and bundled products in a unified environment, without having to overhaul the entire back office.
“Enterprise companies seeking to maximize recurring revenue from a new or existing service or product can gain a very real competitive edge with Aria’s solution,” said David Spreng, CEO of Runway Capital. “The company continues to grow globally and across a variety of industry sectors, all while building a positive cash flow operation. With a strong management team and a superior solution in an addressable market projected to reach $20 billion, we are incredibly bullish on Aria’s prospects for continued success.”
About Aria Systems:
Aria Systems’ cloud-based monetization platform is the analysts’ choice, top ranked by leading research firms. Innovative enterprises like Adobe, Audi and Pitney Bowes depend on Aria to accelerate time to market and increase flexibility, enabling them to maximize customer value and grow recurring revenue through subscription and usage-based offerings. For more information, visit www.ariasystems.com.
Greg Kalish | GK Communications for Aria Systems | +1 516-665-3292 | [email protected]