Aria Systems, a San Francisco, CA-based provider of a monetization platform for enterprises to grow subscription- and usage-based revenue, raised $18m in new funding.
The round was led by Madison Bay Capital with participation from Hummer Winblad Venture Partners, InterWest Partners, and Venrock. In addition, Silicon Valley veterans Steve Reale, Managing Partner of Madison Bay Capital Partners, and Drew Harman, Director of InterWest Partners, are joining Aria’s board of directors.
The company, which has raised $150m in total funding, will use the capital to continue to grow its business reach.
Led by Tom Dibble, President & CEO, Aria Systems provides a cloud-based billing and monetization platform to innovative enterprises like Audi, Generac, Italiaonline, Merrill Corp, Philips, Sungard Availability Services, Subaru, Adobe, and Pitney Bowes to test and iterate on pricing on a wide variety of monetization models, maximize customer value and grow recurring revenue through subscription- and usage-based offerings.