Kyriba Smashes Growth and Revenue Records in Q1 with 84 Percent Annual MRR Increase
Cloud treasury management leader boosts North American new business bookings by 138 percent over previous year; appoints ex-Oracle, RightNow VP as president
SAN DIEGO – April 30, 2013 – Kyriba, the leader in cloud-based treasury management solutions, has announced record-breaking growth and revenue figures for Q1 2013. Kyriba closed the period with 43 percent global bookings growth over the previous quarter, and an 84 percent increase over the same quarter in 2012. In North America, the company increased new business bookings by 138 percent over Q1 2012.
Kyriba’s growth over the quarter is primarily attributed to a large number of new clients that purchased its core Kyriba Enterprise treasury management solution, as well both new clients and expansion of existing agreements for its risk management and supply chain finance platforms. Transactions completed by Kyriba during Q1 include brands such as Hermès, Liquid Capital and The Global Fund. In addition, Kyriba signed referral and white label agreements with two of the world’s 10 largest banks, significantly increasing the potential market for the company’s cash and payments solutions.
The company also made a number of major strategic moves in Q1. In February, the company launched Kyriba Pro, which brings the power of Kyriba’s treasury platform to mid-sized organizations, at an attractive price point. Kyriba also strengthened its management team with the addition of Marcus Bragg as president. Marcus joined Kyriba from Oracle, where he was group vice president. He was previously the third employee at RightNow Technologies, and served as senior vice president of global sales and client success, until its acquisition by Oracle in 2012 for $1.5 billion.
“The first quarter of 2013 has been nothing short of phenomenal across every aspect of the company. We have passed a number of sales and growth milestones, and this positions us well for a very successful year,” said Jean-Luc Robert, chairman and CEO at Kyriba. “We are seeing increased momentum for cloud-based treasury systems for both large and midmarket companies, as well as the need for organizations to optimize their liquidity and supply chain financing. Our supply chain finance solution has seen excellent take-up from both banks and corporations in Europe and North America, and I believe this will open up a major new revenue stream for Kyriba in 2013 and beyond.”