Tuesday, June 30, 2015

Chrome River Finds $100M In Funding

Los Angeles-based enterprise software maker Chrome River, which develops cloud-based software used for expense reporting and automated invoice processing, announced today that it has raised $100M in a Series D funding round. The funding came from Great Hill Partners. Chrome River said it will use the funding to accelerate global growth and support product innovation. Chrome River was co-founded by Alan Rich and Dave Terry, and has quietly grown to become one of Southern California's fastest growing crop of cloud-based software providers. The company said it had 40 percent growth in 2014, and the company regularly makes the list of fastest growing private companies from Inc. 500|5000 and the Deloitte Technology Fast 500. Despite the growth, the company--which sells entirely B-to-B--has mostly stayed under the radar in Southern California's technology industry, which has a healthy number of growing (but quiet) enterprise software developers. More information »