Kyriba Closes Q3 with 82 Percent Growth in YTD New Business Bookings

October 22, 2013

SaaS treasury software leader makes huge strides with new clients including Eurostar and National Tax Search, major funding round and senior team hires

SAN DIEGO – October 23, 2013 – Kyriba, the leader in cloud-based treasury management solutions, announced significant growth and corporate momentum during Q3 of 2013. The company achieved 82 percent global growth on year-to-date annual recurring revenue new business bookings, having secured several new high profile clients across North America and Europe, including Eurostar International and National Tax Search, LLC. In addition, Kyriba closed an $18.2 million series B funding round, which will enable it to make significant investments in technology development and infrastructure, as well as increase headcount across its client service and treasury strategist teams.

The company also enhanced its technology offering, both through a new product release and a high-profile partnership. It launched Kyriba 13.1, which provided significant enhancements in both FX and bank account management workflow. Kyriba also completed an agreement with CGI, to deliver seamless trade finance solutions in the cloud, with the inclusion of CGI TradeFinance360™ into the Kyriba platform.

Kyriba additionally made a number of significant strategic hires over the quarter. It appointed Jeff True, formerly vice president of sales at Websense, as SVP of North American sales and partners. In Japan, Jun-Ichiro Kuwano, who was previously senior director of Oracle’s RightNow Japan division, joined as managing director.

“The past three months have seen us make huge strides,” said Jean-Luc Robert, chairman and CEO at Kyriba. “Closing a major funding round has enabled us to make some significant infrastructure investments and senior team hires, and this is already bearing fruit in the volume and quality of business that we are winning. On the technology side, the launch of Kyriba 13.1 and our recently-announced relationship with CGI have strengthened our offering, and we continue to deliver the most feature-rich, client-friendly, SaaS treasury system on the market. Given all this progress, it should come as no surprise that Ventana Research recently recognized Kyriba as its 2013 Technology Innovation Award winner for Financial Management.”