Kyriba plans $160m growth round led by Bridgepoint
Cloud treasury and finance solution provider Kyriba is in advanced talks with private equity group Bridgepoint to receive a $160 million investment round, reports Jane Connolly.
Once closed, the deal would give Bridgepoint a majority stake in the business and value Kyriba at $1.2 billion. Daher Capital and Iris Capital will remain as investors, along with Kyriba chairman and CEO Jean-Luc Robert, who will continue to lead the unchanged management structure and strategy.
Kyriba’s cloud platform connects siloed financial systems to global organisations to improve key capabilities for cash and risk management, payments and working capital optimisation.
The company plans to use the investment to enhance customer support and expand its open partner ecosystem. Kyriba will also specifically invest $60 million into product innovation over the next two years.
“Bridgepoint will help us fulfil our mission of enabling CFOs and treasury executives to be more agile and efficient in managing their global cash and liquidity,” Jean-Luc says. “In today’s complex and highly volatile business environment, finance leaders need real-time visibility and pinpoint control over their cash operations to maximise growth and opportunity.”
Following a record year in 2018 – which saw revenue surpassing $110 million and the addition of 229 new clients – Kybriba announced its intention to acquire enterprise currency management company FiREapps in January.