Kyriba Announces 48% First-Half Bookings Growth, Now on Track to Surpass $100 Million in Revenue in 2018
NEW YORK, July 24, 2018 — Kyriba, the #1 cloud treasury and financial management platform, today announced that it grew year-over-year sales bookings by 48 percent during the first half of the year, benefiting from strong performances across all global markets. The results show continuous acceleration in growth over the past three years. The company added more than 100 new enterprise clients during the period, consolidating its leadership in the cloud-based treasury and risk management solution space, where it now serves 15 percent of U.S. Fortune 500 companies.
Kyriba CEO Jean-Luc Robert attributed the strong growth to increased demand from global CFOs and their corporate finance teams who require a secure, centralized platform to get real-time insight into global cash and liquidity positions; enhance fraud protection, compliance and risk management; optimize payments; and accelerate growth opportunities through working capital optimization and improved decision support.
“We have been delighted by the response of our customers. When it comes to digital transformation, many global organizations are looking to upgrade their core treasury and finance operations through Kyriba’s enterprise platform,” Robert said. “This ongoing shift is one of several tailwinds that have enabled us to post such a strong first half, with a run rate that will see us eclipse $100 million in total revenue by year-end. Continuing to manage the critical operations of the finance and treasury department through antiquated technologies such as spreadsheets or on-premise software is no longer viable in today’s complex, fast-paced global markets. We are committed to building-out our industry-leading platform, and to expanding the value we bring to our growing list of customers.”
Additional operational highlights during the first-half include:
- Industry recognition – Earlier this year, Kyriba announced it had been recognized as a global category leader by technology analyst firm IDC in its latest MarketScape for SaaS and cloud-enabled treasury and risk management applications.
- BlackRock partnership – In March, Kyriba and BlackRock (NYSE: BLK), a global investment management corporation, announced a new strategic partnership that will leverage both firms’ technology platforms to streamline cash management processes for joint clients.
- Implementations – Kyriba’s partner-led implementation model is working to get clients up and running quickly and efficiently, with Kyriba and its partners completing more than 200 full and partial implementations in the first half of 2018.
About Kyriba Corp.
Kyriba empowers financial leaders and their teams with award-winning solutions for cash and risk management, payments and supply chain finance. Kyriba delivers a highly secure, 100 percent SaaS enterprise platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. Thousands of companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and cybercrime, and accelerate growth opportunities through improved decision support. Technology analyst firm IDC recognized Kyriba as a global leader in its MarketScape for SaaS and cloud-enabled treasury and risk management applications for 2017-2018. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
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