Bain Capital Ventures
lead the Series C funding round, along with existing investors Argentum and First
Analysis. According to a prepared statement from Chrome River CEO and
co-founder Alan Rich, the new round of venture capital funding will be used to
expand in domestic and international markets and add product features,
including "new mobile functionality." The funds also will allow Chrome
River to invest in "significant modules and services" to complement its
accounts payable solutions. Argentum and First Analysis previously invested $3
million in the company. Chrome River in 2013
ranked 81st on Deloitte's annual
Technology Fast 500 list after posting four-year revenue growth to 2012 of
2,319 percent.