Atria Systems Funding, Investors & Competitors

Atria Systems has raised $228M across 5 funding rounds, most recently a $90M undisclosed-stage round in August 2021.

Last Atria Systems funding round

$90M

Undisclosed stage · Aug 2021

Cumulative funding Atria Systems raised

$228M

across 5 funding rounds

Key investors in Atria Systems

  • Venrock
  • InterWest Partners
  • Hummer Winblad Venture Partners
  • Rembrandt Venture Partners
  • Madison Bay Capital Partners
  • Bain Capital Ventures
  • VMware
  • Dell Technologies Capital

Atria Systems Overview

About Atria Systems

Atria Systems is a London-headquartered provider of the Aria billing and monetization platform for enterprises building recurring revenue streams. The end-to-end solution handles usage-based pricing, customer engagement, and product bundling for telecoms and SaaS providers. Clients including Liberty Global and Vodafone leverage Aria to launch services faster while optimizing retention and lifetime value. Founded in 2000, Atria operates globally with offices in Silicon Valley, supporting over 1,000 deployments worldwide.


Founded

2002

HQ

AustraliaAdelaide

Status

Privately held

Customer focus

B2B

Revenue model

Subscription, Usage-based

Atria Systems Funding History

Atria Systems has raised a total of $228M across 5 funding rounds.

Atria Systems' first fundraising round was a $40M Series D in November 2013. The most recent completed round was a $90M undisclosed-stage round in August 2021.

Atria Systems funding rounds

Atria Systems funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2021Undisclosed stageGoldman Sachs Asset Management (lead)$90MAria Systems is a San Francisco-based provider of cloud billing and monetization software that enables enterprises to manage subscription and usage-based revenue models, particularly for digital services in industries like telecommunications, technology, financial services, media, and publishing. The company secured $90 million in growth capital from Goldman Sachs Asset Management Private Credit on August 12, 2021, bringing its total funding to $270 million. Previous rounds included $150 million from 2007-2017 (with backers like Dell/EMC, InterWest Partners, Venrock), a $40 million Series D in 2013 led by Bain Capital Ventures, and $30 million in 2018 from Runway Capital and others. The new funding is earmarked for accelerating global business expansion, deepening penetration in strategic verticals, and capitalizing on the shift to usage-based business models amid rising demand for sophisticated monetization platforms. Aria has demonstrated traction through recent customer wins like Oxford University Press, Liberty Latin America, GTT Infrastructure, M1 (Singapore), and Mindbody, alongside expanded partnerships with Stripe, ServiceNow, and Worldline, and new features like real-time data streaming. Investors highlighted Aria's strong revenue growth, customer retention, scalability, and service to blue-chip clients across diverse end-markets. Goldman Sachs Asset Management described the investment as strategic financing for a high-growth, mission-critical software leader in cloud billing. Aria's investors also include Bain Capital, Hummer Winblad Venture Partners, InterWest Partners, and Venrock.
Dec 2018Undisclosed stageRunway Growth Finance; Hummer Winblad Venture Partners; Rembrandt Venture Partners; Venrock; InterWest Partners; Madison Bay Capital Partners$30M-
Sep 2017Series FMadison Bay Capital Partners (lead); Hummer Winblad Venture Partners; Rembrandt Venture Partners; Venrock; InterWest Partners$18MAria Systems (likely intended company, as 'Atria Systems' yields no matches; exact investor list and date align) provides a cloud-based enterprise billing and monetization platform for subscription- and usage-based revenue models, serving large enterprises needing agile billing capabilities. On September 12, 2017, it raised $18 million in a funding round led by Madison Bay Capital Partners, with participation from Hummer Winblad Venture Partners, InterWest Partners, and Venrock, bringing total funding to $150 million. The capital supports growth, including recent customer wins like Generac, Italiaonline, Merrill Corp, Philips, Sungard Availability Services, and Subaru, and enhancements to its platform. Steve Reale of Madison Bay and Drew Harman of InterWest joined the board. Aria earned recognition as a leader in Forrester's The Forrester Wave™: Recurring Customer and Billing Management, Q3 2017, for its configurable billing processes. It also won the MT News Telecoms 2017 Best Enterprise Cloud Billing Company Award and supports sectors like connected vehicles for automakers and satellite radio.
Feb 2016Series EHummer Winblad Venture Partners (lead); Hercules Capital; VMware; Rembrandt Venture Partners; Venrock; Bain Capital Ventures; Dell Technologies Capital; InterWest Partners; Madison Bay Capital Partners$50MAria Systems announced a $50 million Series C funding round in March 2016 led by existing investors Bain Capital Ventures, Hummer Winblad Venture Partners, InterWest Partners, Venrock, and VMware, joined by new investors Rembrandt Venture Partners, Madison Bay Capital Partners, and Hercules Technology Growth Capital. The company provides enterprise monetization and billing solutions that help organizations deploy recurring revenue models, with particular strength in agile billing for software-as-a-service and similar subscription businesses. The funding followed a record 2015 for the company, during which it secured major customer wins including Atlassian, Edmunds.com, Falck, LogMeIn, Sungard AS, Zipcar, Audi, Experian, Netgear, Philips Healthcare, and Roku. Industry analysts projected the agile billing market to reach $14.8 billion by 2020, positioning Aria as a category leader. The capital infusion was earmarked to accelerate marketing, sales, and product development efforts.
Nov 2013Series DBain Capital Ventures (lead); VMware; Hummer Winblad Venture Partners; Venrock; Tugboat Ventures; InterWest Partners$40MAria Systems is a San Francisco-based leader in cloud-based recurring revenue management solutions, targeting enterprises with high-value recurring revenue businesses requiring sophisticated billing and commerce capabilities. The company announced a $40 million fourth round of funding on November 19, 2013, led by Bain Capital Ventures, with participation from existing investors Hummer Winblad Venture Partners, InterWest Partners, Tugboat Ventures, Venrock, and new investor VMware. This brought total funds raised to $83 million. The new capital was intended to satisfy global demand for recurring revenue solutions that accelerate growth and increase customer loyalty. Aria Systems had demonstrated strong traction in 2013, securing new customer wins including Audi, SAS Institute, Sony, Adobe, and Deutsche Telekom, while deploying solutions for 25 recurring revenue businesses such as AAA NCNU, Experian, Telekom Denmark, BlackBerry, Vocus, Progress Software, and Verizon. The company expanded internationally by opening an office in London and growing its San Francisco headquarters in the emerging Cloud Corridor. Salil Deshpande of Bain Capital Ventures highlighted Aria's proven track record in rapidly deploying and supporting high-value recurring revenue businesses for both established brands and emerging leaders. Bain Capital Ventures, investing from a $660 million stage-agnostic fund raised in 2012, focuses on software infrastructure and led this growth-stage investment with checks up to $50 million. Deshpande joined Aria's board.

Who has invested in Atria Systems?

12 investors have backed Atria Systems across its funding rounds, including Venrock, InterWest Partners, Hummer Winblad Venture Partners, Rembrandt Venture Partners, Madison Bay Capital Partners and Bain Capital Ventures.

Lead investors include Goldman Sachs Asset Management, Madison Bay Capital Partners, Hummer Winblad Venture Partners and Bain Capital Ventures.


Atria Systems Investors

Investors in Atria Systems by funding rounds participated
InvestorHQRoundsRoleFirst check
Hummer Winblad Venture PartnersUnited StatesSan Francisco, CA4LeadNov 2013
VenrockUnited StatesSan Francisco, CA4ParticipantNov 2013
InterWest PartnersUnited StatesSan Francisco, CA4ParticipantNov 2013
Rembrandt Venture PartnersUnited StatesSan Francisco, CA3ParticipantFeb 2016
Madison Bay Capital PartnersUnited StatesUnited States3LeadFeb 2016
VMwareUnited StatesSan Francisco, CA2ParticipantNov 2013
Bain Capital VenturesUnited StatesSan Francisco, CA2LeadNov 2013
Runway Growth FinanceUnited StatesUnited States1ParticipantDec 2018
Hercules CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2016
Goldman Sachs Asset ManagementUnited StatesNew York City, NY1LeadAug 2021

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Atria Systems Competitors

Atria Systems competitors include listed companies like S&P Global, Moody's, Constellation Software and HiThink, and private ones like Ant Group and OneConnect.

Public and private companies comparable to Atria Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
S&P GlobalUnited StatesUnited StatesPublicly listed$15B$7.7B$119B9.1x
Moody'sUnited StatesUnited StatesPublicly listed$7.7B$3.8B$80B10.6x
Ant GroupChinaHangzhouPrivate$25B-$79B3.2x
Constellation SoftwareCanadaCanadaPublicly listed$12B$2.5B$43B3.5x
HiThinkChinaChinaPublicly listed$899M$530M$23B18.9x
OneConnectChinaShanghaiPrivate--$7.4B-

Atria Systems Public Comps

Atria Systems is still privately-owned, but its public comps include S&P Global, Moody's, Constellation Software, Fiserv, Verisk Analytics, HiThink, Fair Isaac, SS&C Technologies, Fidelity Information Services and Broadridge.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
S&P Global$15B$7.7B8.9x9.1x17.6x17.3x
Moody's$7.7B$3.8B11.2x10.6x22.5x20.1x
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
Fiserv$21B$8.9B2.5x2.8x6.1x6.4x
Verisk Analytics$3.1B$1.7B8.8x8.5x16.2x15.1x
HiThink$899M$530M23.0x18.9x39.1x31.2x
Fair Isaac$2B$951M13.2x10.4x27.6x17.1x
SS&C Technologies$6.3B$2.1B4.2x3.9x12.4x10.0x

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Common questions about Atria Systems

When was Atria Systems founded?Atria Systems was founded in 2002.
Where is Atria Systems headquartered?Atria Systems is headquartered in Adelaide, Australia.
Is Atria Systems publicly listed?No, Atria Systems is a private, VC-backed company.
How much funding has Atria Systems raised?Atria Systems has raised $228M across 5 funding rounds.
What was Atria Systems' last funding round?Atria Systems' last funding round was a $90M undisclosed-stage round in August 2021, led by Goldman Sachs Asset Management.
Who are Atria Systems' investors?Atria Systems' investors include Hummer Winblad Venture Partners, Venrock, InterWest Partners, Rembrandt Venture Partners, Madison Bay Capital Partners, VMware, Bain Capital Ventures, Runway Growth Finance, Hercules Capital, Goldman Sachs Asset Management and 2 others.
Which companies are comparable to Atria Systems?Companies comparable to Atria Systems include S&P Global, Moody's, Ant Group, Constellation Software, HiThink and OneConnect.

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