Bain Capital’s venture unit has led a $40m round for cloud-based recurring revenue management specialist Aria Systems.
Existing investors Hummer Winblad Venture Partners, Interwest Partners, Tugboat Ventures and Venrock also participated in the round, which brought Aria’s fundraising total to $83m across four rounds.
The company noted that recurring revenue models including subscriptions, usage, tiered services and real-time on-demand consumption are currently estimated to be a $300bn market.
Bain Capital Ventures managing director Salil Deshpande said, “Recurring revenue business models represent a massive generational shift in business practices.
“The market is rapidly growing beyond simple subscriptions to encompass a range of business strategies. Aria Systems’ cloud commerce solution for recurring revenue is proven best in class.
“Their track record for rapidly deploying and supporting high-value recurring revenue businesses for both brand names and emerging leaders is impressive.”
Earlier this month Bain led a $20m Series B round for customer retention analytics specialist Gainsight.
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