Aras Secures $40 Million

Software startup Aras announced it has secured $40 million in financing, led by Silver Lake. GE Ventures also participated in the round.

Aras offers a suite of open source product lifecycle management (PLM) software solutions that run on a model-based SOA application framework. The Aras application framework is a metadata architecture that runs on a loosely coupled set of federated services. Enterprise applications are defined entirely in XML, enabling real-time customization while maintaining upgradability. Aras customers include Motorola, XEROX, Lockheed Martin, Mitsubishi, Hitachi, Rolls-Royce, Freudenberg, Textron, Mega Brands, GE, L-3 Communications, and the U.S. Army.

According to the company, Aras will use the new investment to drive growth, expand operations, and extend its leadership through development and acquisitions.