Certify and Chrome River to Challenge Expense Leader SAP Concur
Skift Take
The combined Certify and Chrome River still pales in scope when compared to global behemoth SAP Concur. The approach of offering a variety of different services instead of a single platform, though, has potential in a fragmented global market for expense software services.
Expense software providers Certify and Chrome River have merged, continuing a period of consolidation in the expense management space. The two companies will be housed together in a new holding company that will be valued at more than $1 billion.
The mastermind is California-based private equity group K1 Investment Management, which rolled up Certify with several other expense software providers like Tallie and Nexonia in mid- 2017 through a $125 million investment. The roll-up was followed by Certify's acqui
