Cloud billing company launches into 2020 with tremendous momentum as enterprises continue to adopt recurring revenue business strategies
SAN FRANCISCO--(BUSINESS WIRE)--Aria Systems, the leader in helping enterprises grow subscription- and usage-based revenue, completed a record 2019 highlighted by unprecedented growth, the addition of multiple Fortune 500 clients, significant expansions from existing customers, and leadership recognition from top industry analyst firms. The company continued its upward trajectory, securing more deals with large enterprises across a broad range of industries and geographies that have turned to Aria as a key partner for their digital transformations as they introduce new and more sophisticated recurring revenue business models at scale.
As compared with the prior year, Aria enjoyed the following record results in 2019:
- 80% Increase in Bookings
- 50% Growth in Annual Recurring Revenue (ARR)
- 113% Net Revenue Retention
- 54% Increase in Revenue Under Management
“The record growth generated in 2019 is a testament to our ability to deliver an exceptional product and a result of the trusted long-term partnership engagement model we have with our clients who rely on us to run their businesses,” said Tom Dibble, President and CEO of Aria Systems. “This past year, we secured new blue-chip clients, extended existing engagements substantially, expanded our global presence, and continued to innovate our offering, all of which have positioned the company for further strong growth while tracking to cash flow positive in 2020.”
After adding clients such as CDS Global (A Hearst Media Company), FirstEnergy, Mindbody, and Sam’s Club in the first half of the year, Aria continued to grow its client portfolio with major new wins including Early Warning Services, Hisense, and M1. The company also had significant expansions with Constant Contact, Hootsuite, Philips, Red Hat, and Trimble and concluded a massive deployment with Comcast across 17 lines of business - the largest Aria implementation to date. These milestones furthered Aria’s penetration in a number of key verticals, including financial technology, healthcare, telecommunications, and utilities, and expanded Aria’s international presence, with over 30% of the 2019 growth coming from overseas demand.
Other notable milestones in 2019 include recognition from some of the top analysts covering the industry. Aria was named a Leader in the IDC MarketScape for Worldwide Subscription Management Applications 2019-2020 Vendor Assessment (Doc # US44867519, January, 2020) and a Leader in the Forrester WaveTM: SaaS Billing Solutions, Q4 2019 report. In response to the surge in global demand, Aria deepened its geographic footprint in the European Union, established a local presence in Australia to service Asia-Pacific clients, and added a new virtual data center in Singapore. Additionally, the company introduced new capabilities including real-time data streaming and expanded availability of the platform to Microsoft Azure, all while operating with over 99.99% global uptime.
“On the heels of a prosperous 2019, we are even more excited and optimistic for the year ahead and the opportunity to help more companies across a wide range of industry sectors achieve success from their recurring revenue business strategies,” said Dibble.
About Aria Systems
Aria Systems’ cloud-based 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. For more information, visit www.ariasystems.com.
GK Communications for Aria Systems