Aria Systems secured a $90 million investment from Goldman Sachs Asset Management Private Credit. Aria Systems will use the capital to accelerate global business expansion and deepen its penetration in target markets, including the telecommunications, technology, financial services and media and publishing industries. The funding from Goldman Sachs will also enable Aria Systems to capitalize on the shift to usage-based business models 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,” Matt Singer, head of non-sponsor and growth capital at Goldman Sachs Asset Management, said. “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.”
In recent months, Aria Systems has won new contracts with Liberty Latin America, Oxford University Press and GTT Infrastructure while completing go-live implementations with M1, a Singapore-based communications service provider, and Mindbody, a technology platform for the wellness industry. Additionally, Aria Systems expanded partnerships with ServiceNow, Stripe and Worldline and introduced a 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,” Tom Dibble, CEO of Aria Systems, said. “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.”
