Coupa is a pioneer and pure-play provider of cloud-based spend management solutions, offering an Open Business Network and a Savings-as-a-Service model. Its platform covers procurement, invoicing, sourcing, expense management and related financial applications. Coupa reports more than 1 million daily transactions and over $120 billion in spend processed through its platform to date, with nearly $5 billion in estimated customer savings. The company serves more than 500 customers in over 40 countries. Coupa will use new capital to expand global operations, grow sales, support and marketing worldwide, and increase product development to meet evolving enterprise needs. The company has raised more than $165 million in aggregate capital to date. Coupa Software offers cloud-based financial applications focused on procurement, expense management and accounts payable. The company develops a suite of organically built cloud spend-optimization solutions and plans to use new capital to further extend that suite and expand globally. Coupa is led by CEO Rob Bernshteyn and is based in San Mateo, California; it was founded in 2006. The company has more than 400 customers and in 2013 surpassed 100 percent year-over-year revenue growth while releasing five new industry solutions. Prior to this round, the company had raised a total of $87.5M. Coupa provides spend-optimization software that combines procurement and expense management to give businesses visibility into operating spending. Customers find products, add them to a cart and route purchases through customizable approval workflows while Coupa aggregates spend data over time. The service includes social-like features (tweeting, "thank" notifications) and expense warnings; updates roll out quarterly and are free to subscribers. The company plans to use new funding to introduce contract-tracking capabilities, build customer communities, improve its mobile footprint and enhance its budget-approval app. Founded in 2006, Coupa serves about 250 customers and reports a 96% renewal rate, roughly 130% year-over-year growth in recurring revenue for each of the last three years, and thirteen quarters of sequential growth in new first-year subscription revenue. CEO Rob Bernshteyn says the company could be profitable in a month if it cut back investments, but it is raising capital to expand product and geographic reach, particularly into Europe. Coupa offers a web-based cloud spend management (CSM) and e-procurement suite that helps companies track purchases, suppliers and contracts and automatically identify cost-saving opportunities. The platform streamlines communication between employees and executives around financial and purchasing decisions. Feature highlights mentioned in the article include the ability to tweet from the platform, automated expense-report scoring, and expense-line notifications that congratulate or warn employees based on category averages. Coupa integrates with third-party services such as Salesforce.com and Google Maps. Customers cited in the article include Michaels Stores, Pandora and Williams Sonoma, and overall active users on the platform grew eight-fold in 2010. The company had raised $12 million in the announced round, bringing total funding to $27 million. Coupa offers a Ruby on Rails-driven, subscription-based e-procurement suite that helps companies track purchases, suppliers and contracts to control costs and streamline purchasing decisions. The web-based platform emphasizes short implementation and training times versus competitors and includes a free Mobile Approver iPhone app for subscribers. It also provides a one-click Twitter integration to solicit competitive bids from suppliers globally. Coupa markets features that improve communication among employees and executives involved in procurement and aims to help customers spend smarter and improve margins with minimal hassle. The company is based in San Mateo, CA. Financially, the company has just completed a new financing that doubles its total capital to $15 million.

Total raised

$168M

Funding rounds

6

Latest round

Equity

Latest activity

Jun 2015