SAN FRANCISCO, CA--(Marketwired - Mar 12, 2014) - Aria Systems, the innovator in recurring revenue management, today announced an unparalleled year of customer success and expansion which saw the production deployment of over 40 high-value recurring revenue projects by brand name enterprise customers while maintaining 100% of its enterprise clients -- an industry best. Aria also launched operations in Europe and increased its workforce by 40% to meet future demand. Companies that deployed on Aria include AAA NCNU, Experian, Telekom Denmark, Progress Software, Red Hat and Verizon. In Q4, Aria also announced the close of a $40 million fourth round of funding led by Bain Capital Ventures. Aria continued its momentum into 2014 recording its best-ever quarter -- a 188% increase in recurring bookings over the same period in 2013.
Aria's success coincides with the energy around recurring revenue models, which drive predictable and accelerated growth. Companies across multiple industries -- from software to digital entertainment to airlines and retail -- launched offerings via recurring revenue initiatives in the past year. Industry sources show that the recurring revenue economy is valued to be at least $300 billion. The total available market for cloud billing services is projected to grow to $9.58 billion by 2018.
Aria helps companies manage recurring revenue via a sophisticated multi-service commerce hub in the cloud. With Aria, enterprises can offer their customers multiple ways to connect with their products and services including: subscription, usage, prepaid, tiers, or freemium. In addition, Aria gathers critical behavioral intelligence on customers' service usage to help spot trends and uncover new opportunities for pricing, packaging and bundling of services.
"Global brands like Audi, Experian and Pitney Bowes have made recurring revenue an essential component of their business strategy," said Tom Dibble, CEO, Aria Systems. "Our success this past year is built upon our commitment to innovation and laser focus on customer success, which culminated in over 40 live implementations. We plan to extend our company and customer success in 2014 as we expand recurring revenue implementations into the global market place."
In 2013, Aria's achievements included:
- Deployed more than 40 recurring revenue businesses with leading enterprises including AAA NCNU, Experian, Telekom Denmark, Blackberry, Progress Software, Red Hat and Verizon.
- Added marquee customers including: Audi, Philips, SAS Institute, Sony and Deutsche Telekom.
- Grew new accounts by nearly 100%, transactions by over 100%, and revenue under management by 300%.
- Received $40 million in new funding led by Bain Capital Ventures and VMware.
- Opened international offices in London and expanded headquarters in San Francisco's cloud corridor.
- Launched Aria Unified Channel Billing, the first solution to enable delivery of recurring revenue streams through channels.
- Achieved Oracle Exadata-ready status.
Interest in recurring revenue models typically is limited by constraints of legacy billing systems that were designed for one-time transaction models. A study by Gatepoint, commissioned by Aria, in 2013 discovered that nearly two-thirds (67%) of businesses report being limited by a system that only supports simple subscription models, while over half of those wish they had a more flexible system that would give them the ability to experiment or adapt to alternative pricing models. Many customers however, are discovering that Aria offers an alternative to re-engineering expensive legacy systems or missing the recurring revenue train. With Aria companies can take advantage of both.
About Aria Systems
Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers. Learn more about us at www.ariasystems.com.
Aria Systems and the Aria logo are trademarks of Aria Systems, Inc. All other trademarks are the property of their respective owners.
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Contact Information:
PR Contacts:
Marina Greenwood
Activa PR
+1 415 776 5350
Marie Martin
Aria Systems, Inc.
+1 415 852 7255