Coupa

Coupa Software is a global technology platform for Business Spend Management (BSM).[3] The company is headquartered in San Mateo, California with offices throughout Europe, Latin America, and Asia Pacific. Coupa helps companies gain visibility into, and control over, the money and resources spent within their organizations.[4] In 2021, Coupa was included in Gartner’s Magic Quadrant Procure-to-Pay leaders.[5]

Coupa Software Incorporated
TypePublic company
IndustryInternet Software & Services
Founded2006 (2006)
Founders
  • Dave Stephens
  • Noah Eisner
HeadquartersSan Mateo, California, U.S.
Area served
World Wide
Key people
Rob Bernshteyn (Chairman & CEO)
Productsspend management software, procurement, invoicing, sourcing, contract management, catalog management, and expense management[1]
Revenue US$542 million (2021)[2]
Number of employees
2,615 (January 31, 2021)
Websitecoupa.com

History

Dave Stephens and Noah Eisner[6] founded Coupa in 2006. Rob Bernshteyn took over as Coupa's CEO in February 2009.[7]

In 2014, The Forrester Wave named Coupa a market leader.[8] In May, Ariba, a unit of SAP and a competitor of Coupa, filed a lawsuit alleging that Coupa misappropriated Ariba trade secrets.[9][10] Also in 2014, the company expanded globally, announcing new operations in Dublin, Ireland.[11]

In February 2015, Coupa acquired the assets of ZenPurchase, an enterprise procurement software company,[12] as well as acquiring InvoiceSmash, an e-invoicing vendor,[13] and TripScanner,[14] an open booking vendor, in July.[15] Coupa was also positioned in the Leaders quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement.[16] 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.[9][10]

In January 2016, Coupa acquired Contractually, a cloud-based contract management solution.[17] In October, Coupa Software went public on the Nasdaq, trading as COUP.[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 15th, Coupa launched its Sustainable Business Spend Management (BSM) platform, to help business owners with their sustainability initiatives.[21]

Technology

Coupa's cloud-based Business Spend Management solution manages transactions across procurement, payment, and supply chain.

Coupa is cloud-based.[22]

In 2006, its first free open-source product, Coupa Express, was built using RoR.[23] 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.[24][25]

In April 2014, Coupa introduced Coupa Inventory, a portal for viewing inventory availability when ordering, to reduce wasteful spending.[26]

With Coupa’s acquisition of LLamasoft in 2020, the company added AI-powered supply chain design to its platform.[27][28] In 2021, Coupa added configurations to its BSM platform, embedding ESG to optimize supply chains and reduce CO2 emissions.[21]

Coupa's BSM platform collects anonymized customer data to make recommendations to improve business transactions.[29]

Community Intelligence

By leveraging artificial intelligence with data from its customers and suppliers, Community Intelligence provides insights from pooled data, brainpower, and spend for every customer.[30]

Customers and partnerships

Coupa indicates it has 2,000+ customers worldwide in 100+ countries,[31] including Nike, Caterpillar, Slack, The Coca-Cola Company, Adidas, Amazon, BNP Paribas, TD Bank[32][33] Salesforce.com,[22] and Rent-A-Center.[34] In 2011, Coupa started working with the Independent Purchasing Cooperative (IPC) of Subway, to help its franchises in 98 countries with its cost management.[33] Salesforce.com has its sales managers use Coupa to monitor travel expenses and sales outcomes.[35]

In October 2014, Coupa and NetSuite (NYSE: N) announced a strategic partnership to jointly market each other's products.[36]

In December 2020, Coupa signed deals with the United States House of Representatives and Walmart.[37][38]

References
  1. Ty McMahan, The Wall Street Journal. "New Battery Ventures GP Charged Up To Ignore Status Quo." January 6, 2012. Retrieved January 30, 2012.
  2. "Coupa Software Revenue 2016-2021 | COUP".
  3. Coleman, Lauren deLisa. "Inside The Hot, New Area Of The $39B Corporate Spend In AI". Forbes. Retrieved 2018-05-29.
  4. "A Different Approach to Managing Spend - Machine Learning". Compare the Cloud. 2018-03-13. Retrieved 2018-05-29.
  5. "Coupa Continues to Drive Business Value, Named a Gartner® Magic Quadrant™ Leader for P2P Suites For the Sixth Consecutive". Bloomberg. October 25, 2021. Retrieved March 3, 2022.
  6. Coupa Software Press Release March 13, 2007 "E-Procurement Software Innovator Coupa Secures Series-A Funding." March 13, 2007. Retrieved October 31, 2013.
  7. "Executive Profile - Rob Bernshteyn". BusinessWeek. Retrieved 17 November 2014.
  8. Jones, Duncan (13 May 2014). "eProcurement, Q2 2014". The Forrester Wave. Forrester Research, Inc. Retrieved 17 March 2016.
  9. Winegarner Beth (April 2, 2014). "Rival Stole Trade Secrets On Top of Copying IP, Ariba says". Law360.
  10. "Ariba Settles Trade Secrets Litigation with Coupa". Reuters. Sep 24, 2015. Archived from the original on April 17, 2016.
  11. Laughlan, Stuart (2 September 2014). "Coupa's Irish eyes are smiling as global customer support moves to Europe". Diginomica. Retrieved 14 November 2014.
  12. Kase, Thomas (11 February 2015). "Coupa Acquires Sourcing Solutions Startup ZenPurchase". Spend Matters. Retrieved 17 March 2016.
  13. Kepes, Ben (6 July 2015). "Coupa acquires InvoiceSmash to bring clarity to invoicing". Network World. Retrieved 17 March 2016.
  14. "Coupa Buys TripScanner – Extending Open Procurement Model To Travel". Spend Matters. 2014-07-28. Retrieved 2018-09-16.
  15. Gagliordi, Natalie (20 July 2015). "Coupa buys travel technology startup TripScanner". ZDNet. Retrieved 17 March 2016.
  16. Bergfors, Magnus; Malinverno, Paolo; Wilson, Deborah R. (24 March 2015). "Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement". Gartner. Retrieved 17 March 2016.
  17. Gagliordi, Natalie (14 January 2016). "Coupa buys contract management software maker Contractually". ZDNet. Retrieved 17 March 2016.
  18. Julie Bort (2016-10-06). "Coupa IPO is another smash hit". Business Insider. Retrieved 2018-09-16.
  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. Emanuela Kerencheva (June 15, 2021). "Business Spend Management Company Coupa Launches Features Enabling ESG Impact Through Spend". ESG Today. Retrieved January 14, 2022.
  22. Larry Dignan, ZDNet. "Five questions with Coupa Software CEO Rob Bernshteyn." June 18, 2010. Retrieved January 27, 2012.
  23. Antone Gonsalves, InformationWeek. "Coupa Brings Amazon.com Look To E-Procurement." March 21, 2007. Retrieved January 30, 2012.
  24. Justin Kern, Information Management. "New Product News." November 17, 2011. Retrieved February 9, 2012.
  25. 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.
  26. 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.
  27. 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.
  28. Phil Wainewright (November 11, 2020). "Why Coupa bought Llamasoft - bringing community intelligence to the supply chain". Diginomica. Retrieved January 14, 2022.
  29. "Why Community Intelligence is the Leading Coupa Value Proposition". Spend Matters. November 7, 2018. Retrieved January 21, 2022.
  30. Charles Towers-Clark (October 12, 2020). "Why Data Sharing Can Make Organizations Worldwide Smarter Together". Forbes. Retrieved March 3, 2022.
  31. "Strategy and Execution". Investors Coupa. July 15, 2021. Retrieved March 3, 2022.
  32. Jeffrey Kaplan, Datamation. "SUBWAY Heads Down the Cloud Computing Highway." July 21, 2011. Retrieved January 30, 2012.
  33. Patrick Thibodeau, Computerworld. "Subway changes its menu, adds SaaS." July 20, 2011. Retrieved January 30, 2012.
  34. Silicon Valley/San Jose Business Journal. "Coupa raises $12M for cloud spend management." February 15, 2011. Retrieved January 30, 2012.
  35. David F. Carr, Forbes. "Taking The Amazon.com Approach." December 17, 2010. Retrieved January 30, 2012.
  36. Du Preez, Derek (October 17, 2014). "Coupa and NetSuite form 'unique' selling partnership". Diginomica. Retrieved November 14, 2014.
  37. Joe Williams (December 10, 2020). "Coupa is cribbing from SAP and Oracle. Then it wants to beat them". Protocol. Retrieved March 3, 2022.
  38. Rob Lenihan (November 5, 2020). "Coupa Software Jumps on News of Walmart Agreement". The Street. Retrieved March 3, 2022.
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