Aria Systems, a US-based cloud billing service backed by computing technology provider Dell, has received $30m in funding from investment firm Runway Capital and undisclosed existing investors.
Founded in 2002, Aria Systems operates a cloud-based software platform that helps businesses manage recurring payments and monetise their products and services. It will spend the proceeds from the round, which took its total funding to $180m, on increasing international growth.
Aria’s president and chief executive, Tom Dibble, said: “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.”
EMC, the data storage provider that acquired peer VMware in 2003 and which was itself bought by Dell in 2015, participated in Aria’s $20m series C round in 2011 through corporate venturing unit EMC Ventures, alongside InterWest Partners, Hummer Winblad Venture Partners and Venrock.
VMware subsequently took part in a $40m series D round for the company in 2013 that was led by Bain Capital Ventures and backed by Hummer Winblad, Interwest Partners, Venrock and Tugboat Ventures.
Aria added $50m in series E funding from VMware, Bain Capital Ventures, Rembrandt Venture Partners, Madison Bay Capital Partners, Hummer Winblad, InterWest, Venrock and Hercules Technology Growth Capital in early 2016.
Madison Bay Capital Partners subsequently led an $18m series F round for the company in September 2017 that included InterWest, Hummer Winblad and Venrock.