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Print Edition StoriesTuesday, December 9, 2008
Venrock heads $10M funding of billing software firm
By Mass High Tech Staff
Venrock, a Cambridge venture capital firm, has led a $10 million Series B financing round of subscription billing software-as-a-service (SaaS) firm Aria Systems Inc., according to the Media, Penn.-based company. Aria said it plans to use the funding to grow its SaaS-based A+ Billing Platform.
As part of the deal, Venrock managing general partner Ray Rothrock will join the board of directors at Aria. Rothrock holds board positions at CheckPoint Software, CoreTrace, Imperva, PGP, RedSeal Systems and Transonic Combustion. He also serves on both the Visiting Committee of the MIT Nuclear Science and Engineering Department and the Texas A&M Foundation board of trustees.
Launched in 2003, Aria Systems develops a billing and customer lifecycle management platform that tracks cash flow, revenue and market updates.
Founded in 1969 as the venture arm of the Rockefeller family, Venrock is headquartered in New York and operates an office in Cambridge. The firm has $2.1 billion under management, and focuses in the area of technology, health care, media and energy, according to the company website.
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