San Diego Business Journal

Kyriba Raises $18.2M in Series B Financing

Wednesday, August 14, 2013

Kyriba, a San Diego firm that makes cash management software, said it completed an $18.2 million Series B investment round led by new investor Daher Capital.

Existing investors that participated in the round are Bred Banque Populaire and Iris Capital.

Kyriba said it will use the recent capital investment for continued innovation of its platform and to expand its sales and marketing efforts.

Michel Daher, founder and chairman of Daher Capital, takes a seat on Kyriba’s board of directors.

Daher Capital has a strong background in leading financial software vendors, Kyriba said. Daher is the largest shareholder in Victor Securities and Bonds.com, and the lead investor in foreign exchange operator FXCM, which went public in 2010.

Kyriba said it has a client loyalty rate of 98 percent that includes Global 2000 companies and midmarket firms including Amway, Electronic Arts Inc., Pulte Group Inc. and Qualcomm Inc.

— Mike Allen