Cloud-based monetisation platform Aria Systems has raised $18m in its latest funding round, which was led by Madison Bay Capital Partners.
Other contributions to the round came from Hummer Winblad Venture Partners, InterWest Partners, and Venrock.
Aria is an end-to-end active monetisation platform, which has an aim to help businesses market faster and with more products, while maximising customer satisfaction, retention and lifetime value. Offerings include pricing flexibility, secure payments, billing and invoicing, account management, customer engagement, iterate pricing and cloud options, among others.
Through the platform businesses can get help with acquiring more customers, managing recurring revenue, maximising lifetime value, security, automated billing and real-time analytics.
The new capital will allow Aria to support its growth towards enterprise accounts which transform themselves via recurring models.
Madison Bay Capital Partners managing partner Steve Reale said, “With an impressive and growing customer list and years of technology development, Aria is uniquely positioned to meet the needs of today’s enterprises who must improve the agility of their existing billing and monetization capabilities.”
Following the transaction, Madison Bay Capital Partners managing partner Steve Reale and InterWest Partners director Drew Harman will join the company’s board of directors.
The total equity Aria Systems has raised has now reach $150m. The company raised $50m in its Series E funding round early last year, with commitments coming from Bain Capital Ventures, Hummer Winblad Venture Partners, InterWest Partners, Venrock, VMware, Rembrandt Venture Partners, Madison Bay Capital Partners and Hercules Technology Growth Capital.
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