US-based cloud billing service Aria Systems secured $50m on Thursday in a series E round backed by virtualisation software provider VMWare.
The round also included Bain Capital Ventures, Hummer Winblad Venture Partners, InterWest Partners, Venrock, Rembrandt Venture Partners, Madison Bay Capital Partners and Hercules Technology Growth Capital.
Founded in 2002, Aria Systems operates a cloud-based platform that helps businesses monetise their products and services and manage recurring payments.
Aria previously raised $40m in a 2013 series D round backed by VMWare. The round was led by Bain Capital Ventures and featured Hummer Winblad Venture Partners, Interwest Partners, Tugboat Ventures and Venrock.
The company raised a total of $34m in preceding rounds. Data storage company EMC reportedly participated in a $20m series C round in 2011 through its corporate venturing unit EMC Ventures, alongside InterWest Partners, Hummer Winblad and Venrock.
Tom Dibble, president and chief executive of Aria Systems, said: “We are thrilled with the surging enterprise market adoption of Aria and the strategic focus our customers have to improve their recurring revenue businesses.
“Our investment partners provide us with their extensive experience in enterprise cloud, along with capital to provide a truly enterprise-grade level of support and service to our global customers.”