Expense management software Chrome River raises additional $35 million
Last summer, four expense management companies — Certify, Nexonia, ExpenseWatch and Tallie – merged in order to mount a challenge to Concur.
Chrome River Technologies Inc., a developer of expense management and expense report software, received a further $35 million in a December funding round from its existing investors: Argentum Group, Bain Capital Ventures, First Analysis and Great Hill Partners.
The funding will be used to support international expansion, product innovation and potential acquisitions.
Chrome River said it also be scaling up its investment in customer support.
Matt Harris, managing director at Bain Capital Ventures, said Chrome River is “the only private company in the space that can serve the global 1000.”
The 10-year-old company is one of the few expense management companies that has been able to attract that level of investment in a field dominated by the newly renamed SAP Concur.
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