Kyriba raises $14.4m funding

Kyriba raises $14.4m funding

Kyriba Corporation, a provider of Web-based cash and treasury management technology, has received over $14.4 million in a funding round led by new investor Bred Banque Populaire.

Kyriba says the oversubscribed round included existing investors such as GRP Partners.

Founded in 2000, Kyriba has North American headquarters in San Diego and European headquarters in Paris. The company provides hosted services for global cash and liquidity management to more than 100 corporate clients. Kyriba says it doubled its annual revenues and added a record number of customers in 2006.

The firm will use the new funding to to accelerate growth in North America and Europe, expand sales and marketing activities and extend its international hosting operations.

Yves Jacquot, directeur général ajoint at new investor Bred Banque Populaire, says the Kyriba treasury management system "is uniquely positioned to meet the needs of both middle and large-market companies with a robust set of cash and liquidity management tools".

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