San Diego, CA - February 17, 2011 - Kyriba, the leader of Software-as-a-Service (SaaS) cash and treasury management solutions, today announced record growth of 43% in recurring revenue for 2010 with the addition of 130 new clients. Kyriba ended the year with over 360 clients globally, with 12,500 users on the platform.
The company was recognized in 2010 for its strong growth – 858% in the past 5 years – by being named to the Deloitte Fast 500™, the Red Herring North America 100, the Red Herring Global 100, and the Inc. 5000 awards. Importantly, Kyriba’s product won Financial-i’s “Leaders in Innovation Award” for its ASP Treasury Management Solution – the third time in the past four years that the product was recognized by Financial-i.
In October 2010 Kyriba raised $10.6M of funding, which will be used to drive accelerated growth worldwide and to support continued enhancements to the platform’s capabilities and performance. “Kyriba is poised to advance to the next level of market impact, recognition and presence," stated Jean-Luc Robert, CEO of Kyriba. “Through focus, persistence and smart investments, we have grown the company in a consistent and sustained manner. With the support of our strategic investors, the deep and broad experience of our growing leadership team, and increasing recognition in the marketplace, we are confident that Kyriba will continue to redefine the treasury management system marketplace.”