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Goldman Sachs Asset Management Provides $90MM in Growth Capital to Aria Systems

August 16, 2021, 06:00 AM
Filed Under: Technology

Aria Systems secured a $90 million investment from Goldman Sachs Asset Management Private Credit (Goldman Sachs). The capital will be used to accelerate global business expansion and deepen Aria’s penetration in strategic target markets, including the telecommunications, technology, financial services, and media and publishing industries.

Large global enterprises across multiple industries and geographies are actively exploring new ways to monetize existing services and develop digital offerings for their customers. They are turning to sophisticated usage-based business models to drive new revenue growth. The funding from Goldman Sachs will enable Aria to capitalize on these trends and focus its efforts in vertical markets where the monetization needs of large companies are most relevant and pronounced.

“Consistent with our focus on investing in high growth, mission critical software businesses, we are excited to provide this strategic financing to Aria, a widely recognized leader in cloud billing and monetization,” said Matt Singer, from Goldman Sachs Asset Management. “With strong revenue growth and customer retention, Aria’s scalability and configurability make it well suited to support its global base of large blue-chip clients across a diverse set of end-markets.”

Aria continues to enjoy strong momentum and growth with new and existing clients, partnerships, and platform capabilities. In recent months, Aria has won new contracts with Liberty Latin America, Oxford University Press, and GTT Infrastructure while completing successful go-live implementations with Singapore communications service provider, M1, and Mindbody, a technology platform for the wellness industry. Additionally, Aria expanded partnerships with ServiceNow, Stripe and Worldline, and introduced the industry’s first real-time data streaming feature on its platform.

“More than ever, large global enterprises recognize the need for a modern, agile, and adaptable monetization platform that can handle the complexities of subscription models on a global scale,” said Tom Dibble, CEO, Aria. “Aria’s cloud billing and monetization platform is a powerful catalyst for enterprises to pursue these new revenue opportunities. The financial support from Goldman Sachs enables us to more aggressively pursue new market opportunities across the globe, particularly in the telecommunications industry, while continuing to evolve the capabilities of our leading platform.”

Aria Systems’ cloud-agnostic monetization platform is the analysts’ choice, top ranked by leading research firms. Innovative enterprises like Adobe, Allstate, Comcast, Subaru, and Telstra depend on Aria to accelerate time to market and increase flexibility, enabling them to maximize customer value, and grow recurring revenue through subscription and usage-based offerings.

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