San Diego-based fintech company Kyriba has secured $160 million in private equity funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced March 28 and financed by Bridgepoint.
According to its Crunchbase profile, "Kyriba is a provider of web-based cash and treasury management solutions delivered under the SaaS model. The venture backed B2B company’s automated cloud-based system enables customers to control their daily cash management tasks, including maintaining bank balances, tracking transactions, cash positioning and forecasting, automated general ledger posting and investment portfolio reporting. It serves a global client base of over 130 corporate treasuries, insurance companies and financial institutions, including Qualcomm, Cymer, Expedia, DRS Technologies, Interpublic Group and The New York Times."
The 19-year-old company has raised 11 previous funding rounds, including a $45 million Series E round in 2017.
The round brings total funding raised by San Diego companies in financial services over the past 90 days to $161 million. The local financial services industry has seen 15 funding rounds over the past year, raking in a total of $264 million in venture funding.
In other local funding news, medical device and company Biolinq announced a $4.7 million Series A funding round on March 28, led by JDRF T1D Fund.
According to Crunchbase, "Under the leadership of Jared Tangney and Josh Windmiller, Biolinq is redefining how biomedical innovations can be imagined and commercialized. While conducting his post-doctoral research at the University of California, San Diego in the laboratory for NanoBioElectronics, Josh saw the potential to bring nanotechnology to the medical world. Combining forces with Jared, a PhD in Biomedical Engineering, the two saw the opportunity to bring their minimally-invasive technology to the diabetes space."
Founded in 2012, the company has raised two previous rounds, including a $10 million Series A round in 2017.