Expense reporting and automated invoicing software company Chrome River has raised a $100 million Series D round from private equity firm Great Hill Partners.
Chrome River’s cloud-based software is used by employees to report expenses online and for suppliers to automatically invoice their customers. It is most often used by large enterprises seeking better control of their spending.
The funding round will be used to push growth internationally and further product development, the company said.
“We have seen tremendous traction in the last 12 months, particularly with large enterprises that are under increasing pressure to improve their business processes, control costs and provide configurable financial controls,” Chief Executive Alan Rich said in a statement.
The Miracle Mile company said its revenue grew by 40 percent in 2014. It projects 2015 revenues will be around $25 million, about 50 percent higher.
Chrome River’s app allows employees to file expenses by taking pictures of receipts and by granting management the power to approve spending remotely. Its invoicing system has similar automated features, allowing managers to set rules around spending requests, invoice routing and compliance rules for using international currencies.
Chrome River had previously raised $20 million in investments.
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