Tom Paine
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Aria Systems, a SaaS subscription billing vendor founded in Delaware County before migrating its headquarters to Silicon Valley,
raised another $40 million in VC funds, it announced today. This brings the total it has raised to $83 million.
Aria still has its R&D based in Broomall, Delaware County.
According to LinkedIn, it has 48 employees in the Philadelphia area.
The round was filled with heavyweight investors, led by Bain Capital Ventures, with participation from existing investors VMware, Hummer Winblad Venture Partners, Interwest Partners, Tugboat Ventures, and Venrock. Aria CEO Tom Dibble would not reveal the valuation, but was
quoted by the San Francisco Business Times as saying it was a "significant increase" from the prior round.
Aria was founded in 2003 by Ed Sullivan, a Delaware County native and genuine serial entrepreneur who no longer is active in company management but remains on the board, according to Aria's website. He is currently CEO of
G2Link, a Drexel Hill-based startup he founded along with his son.
Although Aria has several competitors, it is most closely identified with
Zuora, which was
founded by former Salesforce exec Tien Tzuo. Both companies have a large presence at Dreamforce 2013.
