Deals

Chrome River gets $17M for B2B billing

Chrome River, a startup that makes software-as-a-service tech for business-to-business (B2B) invoicing and expense management, has raised a healthy $17 million round of funding.

The cash comes from Bain Capital as well as existing investors First Analysis and Argentum. This is Chrome River’s third round of institutional funding.

The money will be used to create new services and build out a mobile technology offering. This funding will also help Chrome River expand into new and international markets.

“Chrome River has experienced rapid growth, signing over half of the Global Top 100 law firms, nearly half of the U.S. Top 200 law firms, several of the world’s leading accounting and consulting organizations as well as notable companies across the U.S. from 50 employees to many thousands around the globe,” said Alan Rich, Chrome River co-founder and CEO, in a statement on the news.

“Chrome River has a clear vision for how we can help companies improve their business processes, control costs and provide configurable financial controls.”

Chrome River was founded in 2007 and is based in Los Angeles. Previously, the company took a $3 million Series B in 2012.

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