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Finding Success in SaaS for Corporate Treasury Management

Background

With a mandate to digitize operations and improve back-office efficiency, CFOs are on the hunt for new technologies that can help with financial management, fraud prevention, and risk. Sumeru Equity Partners actively scouts for SaaS companies that provide software used by the Office of the CFO.

When Kyriba contacted Sumeru about making an investment that would help drive their growth in the U.S. market, the Sumeru team was impressed by the company’s product positioning as a leading SaaS offering in the corporate treasury management market. Kyriba had a strong history of growth in Europe with a growing presence in the U.S., and a software platform that targets enterprise companies across industries.

After getting to know the team and analyzing the market opportunity, we made an equity investment in the San Diego-based SaaS company and successfully partnered with Kyriba’s CEO and management to accelerate growth.

Value Creation

Driving Strong Sales and Marketing Growth

Over Sumeru’s investment period, we supported making substantial investments in sales and marketing activities that helped increase North American sales by 125%, driving a 35% organic annual revenue growth rate for the company. We helped to recruit top executives to drive a global expansion of the Kyriba’s business and expanded its product line-up by sourcing the add-on acquisition of specialist in software for currency risk management. Sumeru also increased Kyriba’s exposure among leading technology industry analysts by drawing attention to its innovative product features.

Results

The Benefit to Kyriba and SEP

Sumeru successfully exited its Kyriba investment when an international private equity group purchased the company for $1.2 billion in 2019.

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