Chordiant Software Inc says it has received $10m in a private placement from Charter Growth Capital LP and a General Motors Corp investment fund. The Cupertino, California-based company, which specializes in customer relationship management software, says the new capital takes the total of pre-IPO funding it has raised to $39m. It will use the cash to continue the development and marketing of its flagship product, Chordiant CCS, which was introduced in mid-1997. Chordiant’s software is designed to allow companies to merge their existing call centers and customer service operations with web-based customer support. It hopes to corner a substantial chunk of a CRM software market estimated to be worth $5bn by 2001.
