Kyriba Posts Dramatic Growth in the First Five Months of 2011
San Diego, CA – June 9, 2011 – Kyriba, the global leader of Software-as-a-Service (SaaS) cash and treasury management solutions, today announced record growth of 55% in recurring revenue for the current period compared to the same period a year ago. Since January 1st , Kyriba has added 86 new corporate clients worldwide, compared to 130 for all of 2010. To support this growth, in the past five months the company has increased its global headcount by 40 professionals, primarily in sales, technology and clients services.
On a worldwide basis, Kyriba has now become the market leader in cloud-based treasury automation solutions. In October 2010 Kyriba raised $10.6M of funding, which is being used to drive accelerated growth worldwide and to support continued enhancements to the solution’s capabilities and performance. “With more than half of the year still ahead of us, Kyriba is well on its way to posting record results,” stated Jean-Luc Robert, CEO of Kyriba. “The funding from our strategic and financial investors, as well as our strong cash flow from operations, is allowing us to hire the best talent in the market, offer the richest cloud-based treasury automation solution in the industry, deliver a client ownership experience second to none, and add new clients to our roster faster than any competitor,” added Mr. Robert.