June was a huge month for two of Concur's California-based competitors. Coupa raised $80 million at a valuation of $1 billion. Chrome River picked up $100 million, declining to disclose its assessed worth.

Enterprise tech is attracting venture capital as established and new providers exploit mobile and cloud technology. The moves also reflect a competitive expense management software marketplace following SAP's $8 billion deal last year for the market leader.

Chrome River and Coupa are spending on sales, marketing and global expansion as they chase opportunity amid . . .

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