Kyriba, a US-based provider of cloud-based treasury management solutions, has completed a $18.2m series B round of funding, led by new investor, family investment office Daher Capital, with support from existing investors, French cooperative bank group Bred Banque Populaire and Iris Capital, the venture capital firm sponsored by mobile telecommunications company Orange and public relations company Publicis.
Kyriba will use the funds to enhance its existing technology and management infrastructure and prepare the company for additional revenue and geographical growth.
Previously, Kyriba raised $10.6m in October 2010, $7m in May 2008, and $14.4m in March 2007.
Michel Daher, founder and chairman of Daher Capital, who will take a seat on Kyriba’s board, said: “Kyriba is not only at the forefront of the treasury and cash management space, it is expanding into new areas beyond treasury. Kyriba’s platform enables corporations to maximize the benefits that their financial team provides, and I see massive growth potential in this field.”
Jean-Luc Robert, chairman and chief executive officer of Kyriba, said: “Michel Daher has a strong track record working with mid-stage financial technology solution providers and driving strong, sustained growth, and we look forward to having his counsel and leadership as a member of our board. In addition, the inclusion of Bred Banque Populaire and Iris Capital in this latest funding round highlights their ongoing commitment to Kyriba and their validation of our product roadmap and go-to-market strategy.”
Kyriba was established in 2000.