Thursday, February 2, 2017

Chrome River Claims Record Revenues, Growth

Los Angeles-based Chrome River, a developer of expense management and invoice management software, reported what it said were record revenues in 2016, and its highest ever sales quarter in the final quarter of the year. The company did not disclose any numbers behind its announcement, however, to back that claim. Chrome River company has consistently ranked as one of LA's fastest growing companies in the Deloitte Fast 500 rankings, and had said in 2014 that it was expecting 2015 revenues of around $25 million. The company, in its release today, said it saw its revenues increase by more than 30% over 2015--suggesting annual revenues now in the $32M range. Chrome River also said it has increased its headcount by 25 percent, and expanded its headquarters here in Los Angeles by another 15,000 square feet. The growth comes thanks to $100M in funding from Great Hill Partners in June of 2015.