Treasury management system Kyriba has seen a YoY growth of 48 per cent in sales bookings for the first half of 2018.
This growth puts the company on track to surpass $100m in revenue for 2018, according to the company.
The milestone demonstrates the growth Kyriba has experienced over the past three years, having added 100 new enterprise clients in this time. The company now serves 15 per cent of the US Fortune 500 companies.
The company’s CEO Jean-Luc Robert attributed the growth to an increased demand from global CFOs and corporate finance teams looking for a secure, centralised platform to access real-time insights into global cash and liquidity positions.
San Diego-based Kyriba is a SaaS platform which offers tools for treasury divisions to anticipate market volatility, regulation, fraud and to better leverage growth opportunities. The platform is used by over 1,600 treasury clients and is implemented across the world.
The service can help a company with is cash and liquidity, payments, risk management, financial transactions and supply chain finance.
Kyriba CEO Jean-Luc Robert said, “When it comes to digital transformation, many global organisations are looking to upgrade their core treasury and finance operations through Kyriba’s enterprise platform. 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 $100m in total revenue by year-end.”
Earlier in the year, Kyriba formed a partnership with global investment management company BlackRock. The deal sees the pair leverage each other’s technology to streamline cash management processes for joint clients.
Last year, the company raised $45m in an equity financing round led by Sumeru Equity Partners to support the development of its products and marketing efforts.
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