What is Chrome River Technologies?
Founded in 2007 and headquartered in Los Angeles, California, Chrome River Technologies is a prominent American software-as-a-service (SaaS) provider specializing in expense reporting and supplier invoice automation. The company serves a diverse clientele, including mid-size to large commercial entities, non-profit organizations, and higher education institutions globally. Its solutions are designed to streamline financial operations and enhance efficiency for complex organizations.
How much funding has Chrome River Technologies raised?
Chrome River Technologies has raised a total of $154.4M across 4 funding rounds:
Series B
$2.4M
Series C
$17M
Series D
$100M
Private Equity
$35M
Series B (2012): $2.4M with participation from First Analysis
Series C (2013): $17M led by Bain Capital Ventures, Argentum, and First Analysis
Series D (2015): $100M supported by Great Hill Partners
Private Equity (2017): $35M featuring Argentum, Great Hill Partners, First Analysis Corporation, and Bain Capital LLC
Key Investors in Chrome River Technologies
Argentum
Argentum is a New York-based growth equity firm that focuses on scaling B2B software, technology-enabled, and business services companies. They provide capital to accelerate growth for companies with revenues between $5 million and $25 million.
Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that finances the acquisition, recapitalization, or expansion of growth companies across various sectors including technology, financial technology, and software.
First Analysis Corporation
First Analysis Securities is a venture capital firm that provides private equity investments in technology and software companies, alongside investment banking and trading support services.
What's next for Chrome River Technologies?
The substantial enterprise-level funding Chrome River Technologies has attracted, particularly the recent strategic investment, positions the company for accelerated expansion and innovation. This capital infusion is likely to fuel further development of its expense reporting and invoice automation platforms, enabling the company to enhance its market penetration, explore new technological advancements, and potentially pursue strategic acquisitions. The sustained investor confidence suggests a strong outlook for continued growth and market leadership in the financial automation software sector.
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