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Investors Not PaaS-ing on Aria Systems

Imagine your employer being charged every time you use your office chair.

While that example may seem a little far fetched, there will soon come a time when many unexpected products become services. After all, as far back as 2015, it was mentioned in an industry keynote that, to paraphrase, every product that can be connected to the Internet, will be connected to the Internet (a chair that tells you to get up and stretch, take your break and alerts a manager when intervention is needed). 

As more companies explore usage-based billing and their products as a service (PaaS) - as well as subscription and other recurring business models - what they will need is technology to not only support the actual monetization of such efforts but also customer engagement (as customer retention will become even more critical). Many enterprises have found Aria Systems to do both and investors continue to notice. 

Aria Systems announced it has raised $18 million in new capital ($150 million to date). The round was led by Madison Bay Capital with Hummer Winblad Venture Partners, InterWest Partners, and Venrock participating. With the funding, Steve Reale, managing partner of Madison Bay Capital Partners, and Drew Harman, director of InterWest Partners, are the newest members of Aria's board of directors.  

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