Aria Systems, a San Francisco, CA-based provider of recurring revenue management solutions, raised $40m in its fourth round of funding.
The round, which brought the total funds raised to date to $83m, was led by Bain Capital Ventures with participation from existing investors Hummer Winblad Venture Partners, InterWest Partners, Tugboat Ventures, and Venrock as well as VMware. In conjunction with the funding, Salil Deshpande, managing director, Bain Capital Ventures, joined the of Aria Systems.
The company intends to use the funds to further invest in advancing its cloud solution and expand globally.
Led by Tom Dibble, CEO, Aria Systems provides businesses with a cloud based billing and subscription management solution that automates the subscriber life cycle for all recurring revenue models.
Customers include Disney, Pitney Bowes, Ingersoll Rand, DreamWorks, EMC, Internap, VMware, Taleo Audi, Philips, SAS Institute, Sony, Adobe, Deutsche Telekom, and Hootsuite.
The company recently opened an international office in London.
01/02/2011: Aria Systems Closes $20M Series C Funding