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Coupa
View on WikipediaCoupa Software Incorporated is an American technology platform for AI-driven total spend management and supply chain.[2][3][4] The company is headquartered in Foster City, California with offices throughout Europe, Latin America, and Asia Pacific. Coupa helps companies gain visibility into and control over how they spend money, optimize supply chains, and manage cash.[5]
Key Information
In 2016, Coupa Software went public on the Nasdaq, trading as COUP.[6] It was taken private by Thoma Bravo in February 2023.[7] Leagh Turner became CEO of Coupa in November 2023.[8][9]
History
[edit]Dave Stephens and Noah Eisner[10] founded Coupa in 2006. Rob Bernshteyn took over as Coupa's CEO in February 2009.[11] In September 2009, Coupa secured a $7.5 million Series C funding round.[12]
In May, Ariba, a unit of SAP and a competitor of Coupa, filed a lawsuit alleging that Coupa misappropriated Ariba trade secrets.[13][14] Also in 2014, the company expanded globally, announcing new operations in Dublin, Ireland.[15]
In February 2015, Coupa acquired the assets of ZenPurchase, an enterprise procurement software company,[16] as well as acquiring InvoiceSmash, an e-invoicing vendor,[17] and TripScanner,[18] an open booking vendor, in July.[19] On September 24, 2015, Ariba and Coupa settled their lawsuit. Coupa acknowledged its possession of Ariba information and is required to abide by certain procedures to prevent any misappropriation in the future. Coupa paid Ariba an undisclosed amount.[13][14]
In January 2016, Coupa acquired Contractually, a cloud-based contract management solution.[20]
In 2020, Coupa acquired AI supply chain design company LLamasoft.[21]
In 2021, Coupa debuted its new venture capital fund, Coupa Ventures.[22]
In May 2022, Coupa added analysis features to its procurement management software to track Scope 1, 2 and 3 emissions reductions and how these contribute to supplier sustainability goals.[23]
In December 2022, Thoma Bravo outbid Vista Equity Partners to announce its acquisition of Coupa for $6.15 billion in cash, and a total enterprise value of $8 billion.[24]
In May 2023, Rob Bernshteyn departed as CEO after 14 years as CEO and chairman;[25] Leagh Turner subsequently became CEO of Coupa in November 2023. Turner most recently served as co-CEO of Ceridian.[8][9]
In September 2024, Salvatore Lombardo joined the company as Chief Product and Technology Officer.[26][27]
Technology
[edit]Coupa’s public cloud-based total spend management manages transactions across procurement, payment, and supply chain.[3][28] Coupa's platform “makes margins multiply” through its community-generated AI, leveraging $7 trillion of indirect and direct spend in anonymized customer data to make agentic AI recommendations for improving business decisions.[3][29][30][31] The collection of this data provides community-powered KPIs[32] and connects 3,500 buyers to over 10 million suppliers,[33][34] including Caterpillar,[35] The Coca-Cola Company,[36] Adidas,[37] Amazon,[38] BNP Paribas,[39] TD Bank, and Microsoft.[40][41]
In 2006, its first free open-source product, Coupa Express, was built using RoR.[42] In 2007, the company launched a SaaS (Software-as-a-service) product called Coupa On Demand for SMBs (small and midsize businesses).
In November 2011, Coupa released its first spend analysis product called Coupa Spend Optimizer.[43][44]
In April 2014, Coupa introduced Coupa Inventory, a portal for viewing inventory availability when ordering, to reduce wasteful spending.[45]
With Coupa's acquisition of LLamasoft in 2020, the company added AI-powered supply chain design to its platform.[46][47]
In February 2022, Coupa launched Community.ai, which benchmarks data to embed performance feedback, operational support, and prescriptive recommendations.[48][49] Coupa received its FedRAMP Moderate certification in March 2022.[50]
In 2023, the “Coupa supply chain collaboration solution” was introduced; this direct spend management solution creates a collaboration layer between buyers and suppliers on the platform in order to decrease operational business risks.[51]
In September 2024, Coupa Navi was launched, a generative AI agent that provides real-time navigation and support for business queries. Contract Intelligence was also released, which is powered by AI to provide risk-informed clause recommendations, legal agreement summaries, and automated record keeping.[52][53]
In 2024, Coupa’s CPTO announced the development of an autonomous “AI agent” network to manage data objects, interact with buyers and sellers, and provide transaction recommendations as needed.[27]
References
[edit]- ^ "Coupa Software Inc. Annual Report for fiscal year ending January 31, 2022 (Form 10-K)". U.S. Securities and Exchange Commission. 16 March 2022.
- ^ Coleman, Lauren deLisa. "Inside The Hot, New Area Of The $39B Corporate Spend In AI". Forbes. Retrieved 2018-05-29.
- ^ a b c Aaron McMillan (December 19, 2024). "How Coupa will Reduce Supplier Risk for Snyk". Procurement Mag. Retrieved March 28, 2025.
- ^ Tom Chapman (May 6, 2024). "Coupa: Overcoming Supply Chain Disruption Using AI". Supply Chain Digital. Retrieved March 28, 2025.
- ^ "A Different Approach to Managing Spend - Machine Learning". Compare the Cloud. 2018-03-13. Retrieved 2018-05-29.
- ^ Julie Bort (2016-10-06). "Coupa IPO is another smash hit". Business Insider. Retrieved 2018-09-16.
- ^ Dorbian, Iris (28 February 2023). "Thoma Bravo completes take-private buyout of Coupa Software for $8bn". PE Hub.
- ^ a b "Leagh Turner". Fortune. Retrieved February 16, 2025.
- ^ a b "Leagh Turner Named as Coupa CEO". Coupa. November 1, 2023. Retrieved February 16, 2025.
- ^ Coupa Software Press Release March 13, 2007 "E-Procurement Software Innovator Coupa Secures Series-A Funding." March 13, 2007. Retrieved October 31, 2013.
- ^ "Executive Profile - Rob Bernshteyn". BusinessWeek. Archived from the original on November 17, 2014. Retrieved 17 November 2014.
- ^ "coupa raises 75 helps companies spend smarter".
- ^ a b Winegarner Beth (April 2, 2014). "Rival Stole Trade Secrets On Top of Copying IP, Ariba says". Law360.
- ^ a b "Ariba Settles Trade Secrets Litigation with Coupa". Reuters. Sep 24, 2015. Archived from the original on April 17, 2016.
- ^ Laughlan, Stuart (2 September 2014). "Coupa's Irish eyes are smiling as global customer support moves to Europe". Diginomica. Retrieved 14 November 2014.
- ^ Kase, Thomas (11 February 2015). "Coupa Acquires Sourcing Solutions Startup ZenPurchase". Spend Matters. Retrieved 17 March 2016.
- ^ Kepes, Ben (6 July 2015). "Coupa acquires InvoiceSmash to bring clarity to invoicing". Network World. Retrieved 17 March 2016.
- ^ "Coupa Buys TripScanner – Extending Open Procurement Model To Travel". Spend Matters. 2014-07-28. Retrieved 2018-09-16.
- ^ Gagliordi, Natalie (20 July 2015). "Coupa buys travel technology startup TripScanner". ZDNet. Retrieved 17 March 2016.
- ^ Gagliordi, Natalie (14 January 2016). "Coupa buys contract management software maker Contractually". ZDNet. Retrieved 17 March 2016.
- ^ "Coupa buys Llamasoft in $1.5B deal".
- ^ Alex Konrad (June 3, 2021). "Coupa Joins Corporate Venture Wave With $50 Million Startups Fund". Forbes. Retrieved March 3, 2022.
- ^ Heather Clancy (May 4, 2022). "Is supply chain the next big sustainability software play?". GreenBiz. Retrieved July 24, 2022.
- ^ Malik, Yuvraj (2022-12-12). "Thoma Bravo to buy Coupa Software for $6.15 bln amid tech slump". Reuters.
- ^ "Rob Bernshteyn Departs Coupa; Charles Goodman Named Interim CEO".
- ^ Alexis Mizell-Pleasant (September 26, 2024). "Coupa Welcomes Chief Product and Technology Officer". SDC. Retrieved February 17, 2025.
- ^ a b Phil Wainewright (November 27, 2024). "Coupa's new leadership has a vision to let autonomous AI agents do the buying". Diginomica. Retrieved February 17, 2025.
- ^ Larry Dignan, ZDNet. "Five questions with Coupa Software CEO Rob Bernshteyn." June 18, 2010. Retrieved January 27, 2012.
- ^ "Why Community Intelligence is the Leading Coupa Value Proposition". Spend Matters. November 7, 2018. Retrieved January 21, 2022.
- ^ Maura Webber Sadovi (November 21, 2024). "Coupa's new CFO eyes AI's 'market tailwinds'". CFO Dive. Retrieved March 28, 2025.
- ^ "Make Margins Multiply with Coupa". Market Scale. June 17, 2024. Retrieved March 28, 2025.
- ^ Sohaib Zaidi (June 27, 2024). "Coupa and AI: Overviewing New Developments". Opkey. Retrieved March 28, 2025.
- ^ Aaron McMillan (June 26, 2024). "How Coupa is Unlocking Savings for Procurement Teams". Procurement Mag. Retrieved March 28, 2025.
- ^ Steve Banker (May 3, 2024). "Coupa Leverages Community Intelligence To Power AI". Forbes. Retrieved March 28, 2025.
- ^ "Caterpillar Selects Coupa's Procure-to-Pay Solution". ERP News. Retrieved March 28, 2025.
- ^ Sharon Goldman (June 6, 2022). "How AI helps Coca-Cola boost supply chain procurement". Venture Beat. Retrieved March 28, 2025.
- ^ "Adidas Heads to the Cloud to Control IT Spending". CIO. November 30, 2012. Retrieved March 28, 2025.
- ^ Dan Berthiaume (September 24, 2024). "Amazon releases new tech features, integrations for business customers". Chain Storage. Retrieved March 28, 2025.
- ^ "BNP Paribas Boosts V-Card Adoption Within Coupa". Pymnts. June 10, 2020. Retrieved March 28, 2025.
- ^ Derek du Preez (December 18, 2014). "TD Direct Investing rolls out Coupa to get to grips with spending". Diginomica. Retrieved March 28, 2025.
- ^ "Coupa CEO on the Promise of AI". Bloomberg. December 16, 2024. Retrieved March 28, 2025.
- ^ Antone Gonsalves, InformationWeek. "Coupa Brings Amazon.com Look To E-Procurement." March 21, 2007. Retrieved January 30, 2012.
- ^ Justin Kern, Information Management. "New Product News." November 17, 2011. Retrieved February 9, 2012.
- ^ Jason Busch, Spend Matters. "A P2P Vendor Crosses the Analytics Line: Coupa Ventures Into Spend Analysis (Part 2)." November 17, 2011. Retrieved February 9, 2012.
- ^ Coupa. "Coupa Software Unveils New Inventory Application and Release 11 with More than Sixty New Enhancements Focused on Driving Measurable Customer Success." April 17, 2014. Retrieved March 30, 2017.
- ^ JP Morris (November 2, 2020). "Coupa acquires LLamasoft, beefing up supply chain planning data for its business spend management solutions". Spend Matters. Retrieved January 14, 2022.
- ^ Phil Wainewright (November 11, 2020). "Why Coupa bought Llamasoft - bringing community intelligence to the supply chain". Diginomica. Retrieved January 14, 2022.
- ^ Phil Wainewright (February 2, 2022). "Enterprise buyers come on down to Coupa Community.ai to find out if the price is right". Diginomica. Retrieved July 24, 2022.
- ^ Charles Towers-Clark (October 12, 2020). "Why Data Sharing Can Make Organizations Worldwide Smarter Together". Forbes. Retrieved March 3, 2022.
- ^ "Coupa Receives FedRAMP Clearance for Spending Management Platform".
- ^ Pierre Mitchell (May 8, 2023). "From Spend to Supply — Coupa's direct spend management progress". Spend Matters. Retrieved March 28, 2025.
- ^ Mark Vigoroso (11 October 2024). "Coupa Offers AI-Driven Features to Simplify Spend Management". SAP Insider. Retrieved February 16, 2025.
- ^ Aaron McMillan (April 24, 2024). "Coupa Unveils Navi: Real-Time AI Aid Debuts at Inspire Vegas". Procurement Magazine. Retrieved February 16, 2025.
External links
[edit]- Official website
- Historical business data for Coupa Software:
- SEC filings
Coupa
View on GrokipediaOverview
Company Profile
Coupa Software Incorporated is an American software company specializing in cloud-based business spend management solutions. Founded in 2006 by Dave Stephens and Noah Eisner in Foster City, California, the company has evolved from a startup focused on e-procurement innovations into a major enterprise software provider serving global organizations.[11][12] Headquartered in Foster City, California, Coupa operates as a privately held company following its acquisition by private equity firm Thoma Bravo in 2022. As of 2025, it employs approximately 3,400 people worldwide and maintains a strong market position in the source-to-pay and spend management sector, recognized as a leader by industry analysts.[1][13][14] The company's primary revenue streams derive from software-as-a-service (SaaS) subscriptions, enabling customers to manage procurement, invoicing, payments, and supply chain operations through its unified platform. At the time of its 2022 acquisition, Coupa was valued at approximately $8 billion, reflecting its scale and impact.[3][15]Mission and Core Values
Coupa's mission is to build the network that powers the future of trade by connecting buyers and sellers in a two-sided network for total spend management.[1] This approach leverages over $8 trillion in real transactional data to enable smarter, more efficient global commerce.[16] The company's core values guide its operations and culture, emphasizing drive success for all stakeholders, ownership of results, cultivation of belonging, and building tomorrow together. These values reflect commitments to innovation through forward-thinking development, customer success by prioritizing value delivery for clients and partners, and integrity via ethical practices and transparency. Coupa integrates an ESG focus into these values, with initiatives aimed at platform innovation to reduce carbon emissions, foster equitable communities through inclusion and volunteerism (over 3,500 hours in 2024), and uphold governance principles like data responsibility and net-zero emissions by FY2041.[1][17][18] Coupa's vision centers on AI-native platforms that revolutionize procurement and finance by creating an autonomous spend management network. This vision manifests in business practices such as community-generated AI, where insights from collective transactional data power trusted, purpose-built tools for spend optimization and supply chain resilience.[1][19]History
Founding and Early Development
Coupa was founded in 2006 by Dave Stephens, a former Oracle executive and founding CEO of Coupa, and Noah Eisner, an engineer with deep technical expertise from his time at Oracle, both of whom had worked on procurement applications there. The duo aimed to address longstanding inefficiencies in e-procurement by developing open-source solutions that would democratize access to robust purchasing tools for businesses, starting with Coupa Express, a freely downloadable requisition and purchase order system built on a Ruby on Rails stack. This initial product launched amid the burgeoning cloud computing era, positioning Coupa as an innovator targeting small and medium-sized enterprises underserved by complex, on-premise systems. In 2007, Coupa pivoted from its open-source model to a proprietary software-as-a-service (SaaS) offering, driven by market demands for scalable, hosted solutions that reduced implementation barriers and provided ongoing support. The company secured its Series A funding of $1.5 million in March 2007, led by BlueRun Ventures, followed by a $6 million Series B round in April 2008 led by Battery Ventures with participation from BlueRun, and a $7.5 million Series C in September 2009 involving both prior investors. These early rounds, part of a cumulative pre-IPO investment totaling approximately $167.5 million from backers including Mohr Davidow Ventures, enabled product refinement and initial customer acquisition, with the SaaS platform focusing on automating procure-to-pay processes like requisitioning and approvals. Early development was marked by significant challenges, including fierce competition from entrenched legacy providers such as SAP and Oracle, whose comprehensive but rigid enterprise resource planning systems dominated large organizations and created high switching costs for potential customers. Coupa's founders sought to differentiate by emphasizing user-friendly interfaces akin to consumer e-commerce sites, tackling root causes of e-procurement adoption failures like poor usability and integration issues, though securing traction in a market favoring established incumbents required persistent iteration on the platform's core procurement functionalities.Growth and Key Milestones
Following its early development, Coupa experienced significant scaling through successive funding rounds that fueled product development and market expansion. The company secured $22 million in its Series E round in May 2012, led by Crosslink Capital, to enhance its cloud-based procurement capabilities. In June 2015, Coupa raised $80 million in a growth equity round led by T. Rowe Price Associates, which supported international expansion and platform enhancements. By the time of its public offering in 2016, Coupa had amassed approximately $169 million in total private funding across multiple rounds, enabling it to build a robust infrastructure for business spend management.[20][21][22] Coupa's growth was marked by strategic partnerships and widespread customer adoption among major enterprises. Integrations with leading ERP systems like SAP and Oracle, as well as e-commerce platforms such as Amazon Business, allowed seamless connectivity for procurement and spend tracking. By the early 2020s, the platform had been adopted by over 2,000 global customers, including Fortune 500 companies like Hilton and Schneider Electric, which leveraged Coupa for end-to-end spend visibility and optimization. These partnerships not only expanded Coupa's ecosystem but also drove network effects, with the platform processing billions in annual spend data.[23][24][25] Product evolution played a central role in Coupa's expansion, transforming it from a core procurement tool into a comprehensive spend management suite. In the mid-2010s, Coupa introduced modules for expense management and invoicing, enabling automated approval workflows and compliance. By 2017, it launched Coupa Pay, an embedded payments solution that enabled businesses to process payments directly within the Coupa spend management platform without leaving the system, integrating dynamic discounting and supplier financing to accelerate cash flow. Further advancements included supply chain risk management features around 2019, allowing users to monitor disruptions and optimize sourcing in real time. These expansions broadened Coupa's appeal, shifting focus from tactical purchasing to strategic financial operations.[26][27] The company garnered notable industry recognition for its innovative approach. Coupa was consistently positioned as a Leader in the Gartner Magic Quadrant for Procure-to-Pay Suites, achieving this status for the sixth consecutive year by 2021, due to its strong vision and execution in cloud-based solutions. Additional accolades included leadership in Gartner's assessments for source-to-pay capabilities, underscoring its impact on enterprise efficiency.[28][29] Pre-IPO, Coupa demonstrated robust financial momentum, reaching over $100 million in annual recurring revenue by fiscal year 2018, with total revenues hitting $186.8 million—a 40% year-over-year increase driven by subscription growth and module upsells. This milestone reflected the platform's scalability and deepening penetration in mid-to-large enterprises, setting the stage for sustained market leadership.[30]IPO and Acquisition
Coupa Software went public on October 6, 2016, listing on the NASDAQ Global Market under the ticker symbol "COUP." The initial public offering was priced at $18 per share, with 8.51 million shares sold, raising approximately $153 million in gross proceeds, including the full exercise of an overallotment option.[31] This IPO followed strong revenue growth in prior years, enabling the company to access public markets for further expansion. Following the IPO, Coupa's stock experienced significant appreciation, peaking at $369.92 per share on February 18, 2021, which propelled its market capitalization to over $20 billion at that time.[32][33] The company's shares traded publicly until its delisting in early 2023, reflecting robust investor interest in its business spend management platform during a period of rapid adoption of cloud-based procurement solutions. In December 2022, Thoma Bravo, a leading private equity firm focused on software investments, announced its acquisition of Coupa for $8 billion in an all-cash transaction, valuing shares at $81 each—a 77% premium over the then-current trading price.[34] The deal closed on February 28, 2023, resulting in Coupa's delisting from NASDAQ and transition to private ownership.[2] Thoma Bravo's strategy emphasized leveraging its expertise to accelerate product innovation, particularly in AI-driven capabilities, and to support global market expansion.[2] Under private equity ownership, Coupa has continued to innovate, with notable developments including the October 2025 acquisition, announced on October 6, of Scoutbee, an AI-powered supplier discovery platform, to enhance supply chain intelligence and integration across its ecosystem.[35] These post-acquisition integrations have focused on embedding advanced AI features to improve spend visibility and operational efficiency for customers worldwide.[36]Products and Services
Business Spend Management Platform
Coupa's Business Spend Management Platform serves as a unified, AI-native SaaS solution for total spend management, integrating processes across procurement, finance, supply chain, and payments to streamline enterprise spending.[3] This cloud-based platform enables organizations to manage both direct and indirect spend comprehensively, spanning the full lifecycle from sourcing and procurement to invoicing and payments.[37] It is informed by over $8 trillion in trusted transactional data, drawn from a vast global dataset that informs decision-making and uncovers spending efficiencies.[19] In November 2025, Coupa launched new AI agents to enhance autonomous decision-making in source-to-pay processes.[38] In January 2026, the R44 release introduced Coupa Orchestrator, a drag-and-drop tool that enables business process owners to design, deploy, and manage custom end-to-end workflows across procurement, finance, supplier management, and other areas, enhancing procure-to-pay (P2P) automation and accounting-related processes. Additional R44 features include AI-driven suggestions for requisitions, a unified workbench for resolving purchase order transmission issues, and enhanced supplier portal controls to streamline data management.[39] Prior 2025 releases (R41–R43) did not introduce major new accounting-specific integration workflows, though general P2P automation and ERP syncing capabilities continued. Central to the platform's design is its two-sided network model, which connects more than 10 million buyers and suppliers worldwide, fostering collaborative transactions and real-time data exchange.[1] This network architecture allows enterprises to leverage community-generated insights for optimized supplier discovery and relationship management.[40] By providing end-to-end visibility into spend activities, the platform delivers key benefits including substantial cost savings through automated sourcing and negotiation tools, enhanced compliance via policy enforcement and risk monitoring, and actionable analytics for strategic oversight.[41] Deployed exclusively in the cloud with a single codebase, it ensures seamless scalability for multinational operations, supporting rapid global expansion without on-premises infrastructure.[40]Key Modules and Features
Coupa's Business Spend Management platform encompasses several interconnected modules designed to optimize procurement, payments, expenses, supply chains, contracts, and analytics, enabling organizations to manage spend efficiently across the procure-to-pay lifecycle.[37] The procurement module facilitates end-to-end sourcing, request for proposals (RFPs), and supplier management by connecting these processes with contracting and purchasing for streamlined operations. It supports agile configurations via a no-code user interface, allowing customization of RFP workflows, while providing a unified supplier portal for real-time performance tracking and AI-driven prioritization of preferred suppliers. Automation within this module includes guided buying to preferred vendors, ensuring compliance and reducing manual efforts.[42] Payments and invoicing features are handled through the accounts payable (AP) automation module, which includes Coupa Pay, an embedded payment solution that enables businesses to process payments directly within the Coupa spend management platform without leaving the system. Coupa Pay supports multiple payment methods, including virtual cards, ACH, wire transfers, and checks, along with global electronic payments. Key financial automation features include accounts payable automation, invoicing, payments, expense management, fraud detection, and treasury/cash management, powered by agentic AI for faster decisions and compliance. Key features include real-time payment tracking, automated reconciliation, improved cash flow visibility, integration with banking partners for seamless execution, reduced manual effort, enhanced compliance, and accelerated supplier payments. The module integrates with Coupa's Treasury & Cash Management for real-time cash visibility, forecasting, and liquidity optimization across subsidiaries, currencies, and accounts. The module incorporates compliance checks via Compliance as a Service (CaaS), providing global e-invoicing and tax compliance solutions supporting regulations in over 50 countries with automated data capture, compliant archiving, VAT/GST handling, and integrations via the Coupa App Marketplace. It handles e-invoicing, tax regulations like VAT and withholding taxes in over 50 countries, and fraud detection through tools such as SpendGuard™ that issues alerts for anomalies. Coupa supports compliance with upcoming 2026 e-invoicing mandates, including mandatory B2B e-invoicing in Belgium from January 1, reception in France from September 1, Poland from February 1, and Phase 1 in the UAE from July. This enhances cash flow visibility and enables early payment discounts to strengthen supplier relationships.[43][44][45] The AP automation module also supports invoice import functionality through CSV files for bulk processing of invoices. The invoiceheader CSV file, used for importing the header information of invoices, has the following required fields:- number: Unique invoice number
- supplier: Supplier name or supplier number/ID
- invoice-date: Date the invoice was issued
- due-date: Payment due date
- currency: 3-letter currency code (e.g., USD)
- payment-term: Payment term name (e.g., Net 30)
- total: Total invoice amount
- bill-to-address-code: Code for the bill-to address
