Coupa

Last updated
Coupa Software Incorporated
Company type Private
Nasdaq: COUP (2016–2023)
IndustryInternet Software & Services
Founded2006;19 years ago (2006)
Founders
  • Dave Stephens
  • Noah Eisner
Headquarters Foster City, California, U.S.
Area served
Worldwide
Key people
  • Leagh Turner (CEO)
  • Mike Agresta (CFO)
  • Salvatore Lombardo
  • (CPTO)
Productsspend management software, procurement, sourcing, travel & expense, treasury & payments, supply chain design
Owner Thoma Bravo
Website coupa.com
Footnotes /references
[1]

Coupa Software Incorporated is an American technology platform for Business Spend Management (BSM). [2] 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. [3]

Contents

In 2016, Coupa Software went public on the Nasdaq, trading as COUP. [4] It was taken private by Thoma Bravo in February 2023. [5] Leagh Turner became CEO of Coupa in November 2023. [6] [7]

History

Dave Stephens and Noah Eisner [8] founded Coupa in 2006. Rob Bernshteyn took over as Coupa's CEO in February 2009. [9] In September 2009, Coupa secured a $7.5 million Series C funding round. [10]

In May, Ariba, a unit of SAP and a competitor of Coupa, filed a lawsuit alleging that Coupa misappropriated Ariba trade secrets. [11] [12] Also in 2014, the company expanded globally, announcing new operations in Dublin, Ireland. [13]

In February 2015, Coupa acquired the assets of ZenPurchase, an enterprise procurement software company, [14] as well as acquiring InvoiceSmash, an e-invoicing vendor, [15] and TripScanner, [16] an open booking vendor, in July. [17] 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. [11] [12]

In January 2016, Coupa acquired Contractually, a cloud-based contract management solution. [18]

In 2020, Coupa acquired AI supply chain design company LLamasoft. [19]

In 2021, Coupa debuted its new venture capital fund, Coupa Ventures. [20] On June 15, Coupa launched its Sustainable Business Spend Management (BSM) platform, to help business owners with their sustainability initiatives. [21]

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. [22]

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. [23]

In May 2023, Rob Bernshteyn departed as CEO after 14 years as CEO and chairman; [24] Leagh Turner subsequently became CEO of Coupa in November 2023. Turner most recently served as co-CEO of Ceridian. [6] [7]

In September 2024, Salvatore Lombardo joined the company as Chief Product and Technology Officer. [25] [26]

Technology

Coupa's cloud-based Business Spend Management solution manages transactions across procurement, payment, and supply chain. [27] Coupa's BSM platform collects anonymized customer data to make recommendations to improve business transactions. [28]

In 2006, its first free open-source product, Coupa Express, was built using RoR. [29] 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. [30] [31]

In April 2014, Coupa introduced Coupa Inventory, a portal for viewing inventory availability when ordering, to reduce wasteful spending. [32]

With Coupa's acquisition of LLamasoft in 2020, the company added AI-powered supply chain design to its platform. [33] [34]

On June 15, 2021, Coupa launched its Sustainable Business Spend Management (BSM) platform, to help business owners with their sustainability initiatives. Coupa added configurations to its BSM platform, embedding ESG to optimize supply chains and reduce CO2 emissions. [21]

In February 2022, Coupa launched Community.ai, which benchmarks data to embed performance feedback, operational support, and prescriptive recommendations. [35] [36] Coupa received its FedRAMP Moderate certification in March 2022. [37]

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. [38] [39]

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. [26]

References

  1. ↑ "Coupa Software Inc. Annual Report for fiscal year ending January 31, 2022 (Form 10-K)". U.S. Securities and Exchange Commission. 16 March 2022.
  2. ↑ Coleman, Lauren deLisa. "Inside The Hot, New Area Of The $39B Corporate Spend In AI". Forbes. Retrieved 2018-05-29.
  3. ↑ "A Different Approach to Managing Spend - Machine Learning". Compare the Cloud. 2018-03-13. Retrieved 2018-05-29.
  4. ↑ Julie Bort (2016-10-06). "Coupa IPO is another smash hit". Business Insider. Retrieved 2018-09-16.
  5. ↑ Dorbian, Iris (28 February 2023). "Thoma Bravo completes take-private buyout of Coupa Software for $8bn". PE Hub.
  6. 1 2 "Leagh Turner". Fortune. Retrieved February 16, 2025.
  7. 1 2 "Leagh Turner Named as Coupa CEO". Coupa. November 1, 2023. Retrieved February 16, 2025.
  8. ↑ Coupa Software Press Release March 13, 2007 "E-Procurement Software Innovator Coupa Secures Series-A Funding." March 13, 2007. Retrieved October 31, 2013.
  9. ↑ "Executive Profile - Rob Bernshteyn". BusinessWeek. Archived from the original on November 17, 2014. Retrieved 17 November 2014.
  10. ↑ "coupa raises 75 helps companies spend smarter".
  11. 1 2 Winegarner Beth (April 2, 2014). "Rival Stole Trade Secrets On Top of Copying IP, Ariba says". Law360.
  12. 1 2 "Ariba Settles Trade Secrets Litigation with Coupa". Reuters. Sep 24, 2015. Archived from the original on April 17, 2016.
  13. ↑ Laughlan, Stuart (2 September 2014). "Coupa's Irish eyes are smiling as global customer support moves to Europe". Diginomica. Retrieved 14 November 2014.
  14. ↑ Kase, Thomas (11 February 2015). "Coupa Acquires Sourcing Solutions Startup ZenPurchase". Spend Matters. Retrieved 17 March 2016.
  15. ↑ Kepes, Ben (6 July 2015). "Coupa acquires InvoiceSmash to bring clarity to invoicing". Network World. Retrieved 17 March 2016.
  16. ↑ "Coupa Buys TripScanner – Extending Open Procurement Model To Travel". Spend Matters. 2014-07-28. Retrieved 2018-09-16.
  17. ↑ Gagliordi, Natalie (20 July 2015). "Coupa buys travel technology startup TripScanner". ZDNet. Retrieved 17 March 2016.
  18. ↑ Gagliordi, Natalie (14 January 2016). "Coupa buys contract management software maker Contractually". ZDNet. Retrieved 17 March 2016.
  19. ↑ "Coupa buys Llamasoft in $1.5B deal".
  20. ↑ Alex Konrad (June 3, 2021). "Coupa Joins Corporate Venture Wave With $50 Million Startups Fund". Forbes. Retrieved March 3, 2022.
  21. 1 2 Emanuela Kerencheva (June 15, 2021). "Business Spend Management Company Coupa Launches Features Enabling ESG Impact Through Spend". ESG Today. Retrieved January 14, 2022.
  22. ↑ Heather Clancy (May 4, 2022). "Is supply chain the next big sustainability software play?". GreenBiz. Retrieved July 24, 2022.
  23. ↑ Malik, Yuvraj (2022-12-12). "Thoma Bravo to buy Coupa Software for $6.15 bln amid tech slump". Reuters.
  24. ↑ "Rob Bernshteyn Departs Coupa; Charles Goodman Named Interim CEO".
  25. ↑ Alexis Mizell-Pleasant (September 26, 2024). "Coupa Welcomes Chief Product and Technology Officer". SDC. Retrieved February 17, 2025.
  26. 1 2 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.
  27. ↑ Larry Dignan, ZDNet. "Five questions with Coupa Software CEO Rob Bernshteyn." June 18, 2010. Retrieved January 27, 2012.
  28. ↑ "Why Community Intelligence is the Leading Coupa Value Proposition". Spend Matters. November 7, 2018. Retrieved January 21, 2022.
  29. ↑ Antone Gonsalves, InformationWeek. "Coupa Brings Amazon.com Look To E-Procurement." March 21, 2007. Retrieved January 30, 2012.
  30. ↑ Justin Kern, Information Management. "New Product News." November 17, 2011. Retrieved February 9, 2012.
  31. ↑ 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.
  32. ↑ 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.
  33. ↑ 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.
  34. ↑ Phil Wainewright (November 11, 2020). "Why Coupa bought Llamasoft - bringing community intelligence to the supply chain". Diginomica. Retrieved January 14, 2022.
  35. ↑ 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.
  36. ↑ Charles Towers-Clark (October 12, 2020). "Why Data Sharing Can Make Organizations Worldwide Smarter Together". Forbes. Retrieved March 3, 2022.
  37. ↑ "Coupa Receives FedRAMP Clearance for Spending Management Platform".
  38. ↑ Mark Vigoroso. "Coupa Offers AI-Driven Features to Simplify Spend Management". SAP Insider. Retrieved February 16, 2025.
  39. ↑ Aaron McMillan (April 24, 2024). "Coupa Unveils Navi: Real-Time AI Aid Debuts at Inspire Vegas". Procurement Magazine. Retrieved February 16, 2025.
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