SunBridge Partners has exited Kyriba Japan, the Japan joint venture between Kyriba, a treasury management technology firm and SunBridge Partners. The exit comes as part of Bridgepoint‘s recent investment in Kyriba. Based in Beachwood, Ohio, SunBridge is a venture firm that invests in enterprise software in the U.S. and Japan.
BEACHWOOD, Ohio–(BUSINESS WIRE)–SunBridge Partners (“SBP”), a venture capital firm targeting investments in global leaders in enterprise software in the US and Japan, is pleased to announce the sale of its holdings in Kyriba Japan Co., Ltd. (“Kyriba Japan”), the Japan Joint Venture between Kyriba Corporation (“Kyriba”) and SunBridge, as part of Bridgepoint’s recent investment in Kyriba.
SunBridge Partners teamed with Kyriba in 2012 to help establish its Japan operations via SBP’s proven Japan-entry Joint Venture (“JV”) model. Previous SunBridge Japan entry JVs also include Concur Japan, Marketo Japan and Demandware Japan. SBP was also fortunate to have Marc Benioff, Steve Singh, Mizuho Capital, and Mitsubishi UFJ Capital as strategic partners and co-investors in the JV.
SunBridge worked side-by-side with Kyriba to launch operations in Japan, identify potential customers, and assist the company through several generations of growth in Kyriba Japan, including the hiring of President Shintaro Komatsu, and partnered with the team to help maximize the growth and success of the Japan business.
“SunBridge Partners has been an invaluable partner in Japan; accessing their broad network of contacts and customers, an extensive understanding of the Japan market, and the ability to know what local customers demand from their software suppliers have all been critical to our success in Japan to date,” said Jean-Luc Robert, Kyriba CEO. “SBP’s support, proactive assistance and valuable insights were key to the success of our engagement together.”
“Kyriba is the global leader in cloud treasury and finance solutions, and is poised for incredible growth in the next phase of their journey with Bridgepoint,” said SBP Partner Ken Ehrhart, who led SBP’s relationship with Kyriba Japan. “It has been an honor to have the chance to work with pioneers like Jean-Luc and Komatsu-san and help to contribute in extending their market leadership.”
Kyriba empowers financial leaders and their teams with award-winning solutions for cash and risk management, payments and working capital optimization. Kyriba delivers a highly secure, 100 percent SaaS enterprise platform, superior bank connectivity and a seamlessly integrated solution set for tackling today’s most complex financial challenges. Thousands of companies, including many of the world’s largest organizations, rely on Kyriba to streamline key processes, protect against loss from fraud and financial risk, and accelerate growth opportunities through improved decision support. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Tokyo, Dubai and other major locations. For more information, visit www.kyriba.com.
About SunBridge Partners
SunBridge Partners is a venture capital firm focused on helping global leaders in enterprise software and Software-as-a-Service (SaaS) to enter and become growth success stories in the Japanese market. SunBridge successfully co-founded Concur Japan, Marketo Japan, Demandware Japan and Kyriba Japan, and invested over $100m in more than 65 portfolio companies, creating over $1.1B in Japan JV valuation and partnered with JV parent companies worth over $144B in total. SunBridge offices are located in Tokyo, Silicon Valley, Ohio and North Carolina. More information is available at www.sunbridgepartners.com.