Kyriba,
the global leader in cloud treasury and finance solutions, today
announced that it is in advanced talks with Bridgepoint, an
international private equity group focused on investing in
market-leading businesses, to receive a $160M investment round to
accelerate innovation and growth of its enterprise platform. The deal,
once closed, would give Bridgepoint a majority stake in the business,
and value Kyriba at $1.2 billion. Daher Capital, Iris Capital and Kyriba
Chairman and CEO Jean-Luc Robert will remain as investors in the company.
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“Bridgepoint will help us fulfill our mission of enabling CFOs and
treasury executives to be more agile and efficient in managing their
global cash and liquidity,” Robert said. “In today’s complex and highly
volatile business environment, finance leaders need real-time visibility
and pinpoint control over their cash operations to maximize growth and
opportunity.”
Kyriba’s cloud platform seamlessly connects siloed financial systems –
banks, ERPs, and other systems – to enable global organizations to
improve key capabilities for cash and risk management, payments and
working capital optimization. Through its open ecosystem, Kyriba enables
strategic partners to access its platform and create value-added
services that no other vendor can offer.
Kyriba’s unique value proposition resulted in a record growth year in
2018, including surpassing $110M in revenue and netting 229 new clients.
In January, Kyriba announced its plans to acquire FiREapps, a leader in
enterprise currency management, which will create the industry’s most
robust, end-to-end solution for managing FX risk.
“We are very pleased to be engaged with Kyriba in this next stage of
growth. Kyriba is a fast-growing company with an impressive track record
of double-digit expansion and is the global market leader in cloud-based
treasury management software solutions,” said Andrew Sweet, a New
York-based partner at Bridgepoint. “With a market-leading offering and
leadership position in the French and US markets, Kyriba is now well
positioned to expand globally and we anticipate that further investment
in R&D in particular will support its development in providing clients
with comprehensive, end-to-end liquidity management solutions.”
With the new capital, Kyriba will enhance product development, customer
support and expand its ecosystem. It will specifically invest $60M into
product innovation over the next two years.
Bridgepoint is an international private equity firm, with 12 offices
across the US, Europe and Asia, and more than $20 billion of assets
under management. Bridgepoint has extensive experience of partnering
with management to support the growth of similar software businesses,
including Efront (the leading alternative investment management
software) and Calypso (a leading provider of capital markets software
for financial institutions).
“I would like to thank the investors who have supported Kyriba
throughout its growth and enabled us to get to this important milestone,
including Upfront Ventures, Bpifrance, Sumeru Equity Partners and HSBC,”
Robert said. “This transaction has provided a strong exit for them while
establishing a strong future for Kyriba.”
Kyriba will continue to be led by Jean-Luc Robert and will operate with
its current management structure and strategy.
About Kyriba Corp.
Kyriba empowers financial leaders and their teams with award-winning
solutions for cash and risk management, payments and working capital
optimization. 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 financial risk, and accelerate
growth opportunities through improved decision support. Kyriba is
headquartered in San Diego, with offices in New York, Paris, London,
Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
About Bridgepoint
Bridgepoint is an international private equity firm. With over $20
billion of assets under management and over $30 billion of capital
raised to date, it typically focuses on acquiring well managed companies
in attractive sectors helping companies and management teams by
investing in expansion, operational transformation or via consolidating
acquisitions. Bridgepoint has offices in Amsterdam, Frankfurt, Istanbul,
London, Luxemburg, Madrid, New York, Paris, San Francisco, Shanghai,
Stockholm and Warsaw. www.bridgepoint.eu
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