Kyriba Sets up Japan JV with SunBridge, Marc Benioff and Steve Singh
Kyriba Establishes Japanese Joint Venture with SunBridge Corporation to Support Kyriba’s Global and Local Market Leadership
TOKYO, Japan, June 18, 2012 — Kyriba, the leader in cloud-based treasury management solutions today announced the establishment of a new joint venture in Japan called Kyriba Japan. The joint venture will enable Kyriba to meet the demands of the increasing number of corporations in Japan and throughout Asia that are turning to cloud computing and mobile solutions to help them manage their global treasury operations.
Kyriba’s best-in-class, Software-as-a-Service (SaaS) solution delivers a fully web-based cash, treasury, and risk management solution to over 25,000 users across 700 leading global organizations. Key features of Kyriba’s award-winning platform include:
- Global Cash Visibility, including SWIFT integration
- Cash and Liquidity Forecasting
- Payment Factories
- Bank Fee Analysis
- Accounting Reconciliation
- Exposure Management
- Hedge Management
- Supply Chain Finance
Kyriba Japan is a joint venture between Kyriba, as the majority shareholder, SunBridge Corporation, the firm responsible for the salesforce.com Japan and Concur Japan joint ventures, and Marc Benioff and Steve Singh, acting as minority direct investors. Japan operations will begin in June 2012.
“Kyriba has enjoyed remarkable success over the last few years delivering Internet-based Treasury Management Solutions to the foremost corporations around the world. We are now investing in Japan to support our global clients’ business goals and continue our geographic expansion. Japan is a key country for Kyriba in its Asian expansion, given the strength and diversity of Japanese companies. This growth further demonstrates Kyriba’s commitment to satisfy our clients’ needs globally,” commented Jean-Luc Robert, CEO of Kyriba. “We are extremely pleased to be partnered with SunBridge Corporation, Marc Benioff and Steve Singh who have demonstrated great success in building the Japanese operations of top tier global companies.”
“The Kyriba solution’s ability to combine global cash visibility, treasury productivity, and risk management on a single web platform is a critical requirement for Japanese enterprises doing business internationally as well as for multi-national corporations doing business in Japan,” said Allen Miner, the Founder and CEO of SunBridge. “Feedback from potential Japanese customers gives us confidence that Kyriba will enjoy great success in Japan.”
About SunBridge
SunBridge Corporation is an international venture capital and professional services firm. SunBridge offers globalization support for both Japanese and US technology companies; is a premier value added reseller of leading international enterprise software products; and, offers a range of custom development and consulting services. SunBridge’s principals share a rich heritage of having founded Oracle Japan and held senior executive positions with IBM Japan and other leading enterprise software companies. SunBridge successfully co-founded salesforce.com Japan, Concur Japan and ITmedia, and invested over $100m in more than 65 portfolio companies, resulting in nine successful IPOs and several major acquisition exits generating over $23 Billion in current market capitalization. SunBridge offices are located in Tokyo, Osaka, Silicon Valley and Cleveland. More information is available at www.sunbridge.com and www.sunbridgepartners.com.