Coupa

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Coupa
Industry Internet Software & Services
Founded 2006
Founder Dave Stephens, Noah Eisner
Headquarters San Mateo, California, U.S.
Area served
World Wide
Key people
Rob Bernshteyn (CEO) and 800 employees
Products Cloud Spend Management Software (procurement, invoicing and expense management)[1]
Website coupa.com

Coupa is a cloud-based spend management software company located in San Mateo,[2] California.

The company was founded in 2006[3] by Dave Stephens and Noah Eisner.[3] Stephens and Eisner previously worked at Oracle (enterprise procurement applications).[3] Rob Bernshteyn joined Coupa as CEO in February 2009 after serving as Vice President of Global Product Marketing and Management at SuccessFactors, Inc.[4] Former Yahoo CEO and PayPal president Scott Thompson joined the company’s board of directors in April 2013.

In 2014, The company added a new operation in Dublin, Ireland;[5] Paris, France and Frankfurt, Germany. Coupa's other international operations include its offices in Australia and its EMEA headquarters in the United Kingdom.

Technology[edit]

Coupa’s Cloud Spend Optimization SaaS product manages indirect purchases, invoices and expenses in real-time.[6][7] Built on Coupa’s cloud architecture, it provides executive dashboards,[8] alerts,[7] expense management[9] and real-time benchmarking[10] into a single user interface.[8][9] This spend optimization software suite focuses on three core spend areas including procurement, accounts payable, and expense management.

Coupa is cloud-based and built on Amazon Web Services infrastructure.[11][12] In 2007, the company launched a SaaS (Software-as-a-service) product called Coupa On Demand for SMBs (small and midsize businesses). This platform uses Amazon’s Elastic Compute Cloud Web services (EC2).[13]

Coupa’s software is based on the Ruby on Rails (RoR) platform.[14][12] With RoR, Coupa developed software that helps companies to better monitor costs[15] with less implementation time[16][17] and employee training[18] In 2006, its first free open-source product, Coupa Express, was built using RoR.[19] Coupa's application can be accessed by any user via their mobile device browser.

In November 2011, Coupa released its first spend analysis product called Coupa Spend Optimizer.[20][21] According to Coupa, this product provides spending insight to employees in both the procurement and finance sectors, with its easy-to-use interface.[22] Also, users have access to data from other platforms, like ERP or HR systems, so they have a broader understanding of spend across their companies.[23]

In August 2012, Coupa added an application called Coupa Contracts to its software suite. Companies can use the contracts repository to access their approved contracts and to leverage their negotiated pricing at the time of purchasing.

In May 2013, Coupa introduced applications Coupa Sourcing and Coupa Catalogs. The former makes it easier for companies to run sourcing events with suppliers to save money. With Coupa Catalogs, companies are able to use Coupa’s software platform as a shopping and catalog management front end to their ERP-based procurement system.

In April 2014, Coupa introduced Coupa Inventory which provides all employees in an organization real-time visibility into inventory availability while they are ordering, thus reducing wasteful spending.

In October 2014, Coupa announced an update to its applications, which includes new features to optimize spend and supply chain management in the enterprise.[24]

Misappropriation of trade secrets[edit]

In May 2014, Ariba, a unit of SAP and a competitor of Coupa, filed a lawsuit alleging that Coupa misappropriated Ariba trade secrets. On September 24, 2015, the parties settled the lawsuit. Coupa acknowledged its possession of Ariba information and is required to abide by certain procedures to prevent any misappropriation in the future. Coupa will pay Ariba an undisclosed amount.[25][26]

Customers and Partners[edit]

As of November 2014, Coupa indicated it had 450+ customers worldwide in 40 countries and in 150 currencies, including Concentrix, Coca-Cola Consolidated, Adidas, Subway, Armstrong, Sears, Graham Packaging, BNP Paribas, TD Bank[27][28] Salesforce.com,[11] and Rent-A-Center.[2] In 2011, Coupa started working with the Independent Purchasing Cooperative (IPC) of Subway, to help its franchises in 98 countries with its cost management.[28] Salesforce.com has its sales managers use Coupa to monitor travel expenses and sales outcomes.[29] Rent-a-Center chose Coupa because the e-procurement product has an Amazon-like interface, which is easy for employees to use.[29]

In October 2014, Coupa and NetSuite (NYSE: N) announced a strategic partnership to jointly market the Coupa Cloud Procurement and Expense Management SuiteApp built for NetSuite.[30]

History[edit]

Dave Stephens and Noah Eisner[3] founded Coupa in 2006.[3] Stephens and Eisner previously worked at Oracle (enterprise procurement applications).[3] Rob Bernshteyn took over as Coupa's CEO in February 2009, after serving as Vice President of Global Product Marketing and Management at SuccessFactors, Inc.[4] Since then, the company has reported 26 consecutive quarters of subscription revenue growth.[31]

In 2011, Coupa was named a Cool Vendor in Procurement and Sourcing by Gartner, which cited Coupa’s solution usability.[32] In 2014, The Forrester Wave named Coupa a market leader.[33] Coupa was also positioned in the Leaders quadrant of the Gartner Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement in March 2015.[34]

Former Yahoo CEO and PayPal president Scott Thompson joined the company’s board of directors in April 2013.[35] The company expanded globally in 2014, announcing new operations in Dublin, Ireland.[5] Coupa's other international operations include its offices in Australia and several EMEA and Asia Pacific locations.[36] Coupa expanded its leadership and governance in 2014 with the hiring of Tara Ryan as the company's CMO[37] and the appointment of Roger Siboni as a new member of the company's Board of Directors.[38]

In 2015, Coupa appointed Todd Ford as CFO.[39] In February 2015, Coupa acquired the assets of ZenPurchase, an enterprise procurement software company.[40] In July 2015, Coupa acquired InvoiceSmash, an e-invoicing vendor,[41] and TripScanner, an open booking vendor.[42] In January 2016, Coupa acquired Contractually, a cloud-based contract management solution.[43]

Funding[edit]

To-date, Coupa has raised a total of $169 million in funding.

In June 2015, Coupa raised $80 million in series G funding led by T. Rowe Price, with participation from Battery Ventures, Crosslink Capital, El Dorado Ventures, Iconiq Capital, and PremjiInvest.

In March 2014, Coupa raised $40 million in series F funding led by Meritech Capital, with participation from Icon Ventures, Northgate Ventures, Crosslink Capital, Mohr Davidow Ventures, Battery Ventures, El Dorado Ventures and Blue Run Ventures.

In April 2012, Coupa raised $22 million in series E funding led by Crosslink Capital, with participation from Mohr Davidow Ventures, Battery Ventures, El Dorado Ventures, and Blue Run Ventures.

In 2011, Coupa raised $12 million in series D funding led by Mohr Davidow Ventures, with participation of Battery Ventures, BlueRun Ventures and El Dorado Ventures.[2][15]

In 2009, after Bernshteyn joined the company, Coupa raised $7.5 million in Series C funding led by El Dorado Ventures, with participation from BlueRun Ventures and Battery Ventures.[44]

In 2008, Coupa received a funding of $6 million from Battery Ventures and BlueRun Ventures.[12]

In 2007, Coupa raised the first round of funding from BlueRun Ventures,[45][46] which was later disclosed as $1.5 million.[12]

Awards & accolades[edit]

  • The Wall St. Journal Next Big Thing Award[47]
  • TMC Labs Innovation Award 2012[48]

References[edit]

  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. ^ a b c Silicon Valley/San Jose Business Journal. "Coupa raises $12M for cloud spend management." February 15, 2011. Retrieved January 30, 2012.
  3. ^ a b c d e f Coupa Software Press Release March 13, 2007 "E-Procurement Software Innovator Coupa Secures Series-A Funding." March 13, 2007. Retrieved October 31, 2013.
  4. ^ a b "Executive Profile - Rob Bernshteyn". BusinessWeek. Retrieved 17 November 2014. 
  5. ^ a b Laughlan, Stuart (2 September 2014). "Coupa's Irish eyes are smiling as global customer support moves to Europe". Diginomica. Retrieved 14 November 2014. 
  6. ^ Jason Busch, Spend Matters. "New Coupa Release – Updated UI, Features, Same Opinionated Spend Management Attitude (Part 1)." May 24, 2011. Retrieved February 9, 2012.
  7. ^ a b Jason Busch, Enterprise Irregulars. "Coupa and Ariba – Analyzing Competitive Claims (Part 3)." March 9, 2010. Retrieved February 9, 2012.
  8. ^ a b Jason Busch, Spend Matters. "Coupa Heads for the Clouds – eProcurement, T&E and Beyond (Part 1)." March 10, 2010. Retrieved February 9, 2012.
  9. ^ a b Peter Smith, Spend Matters. "Introducing Coupa (got to be a pun there, just can’t think of it …)." February 10, 2011. Retrieved February 9, 2012.
  10. ^ Jason Busch, Spend Matters. "Coupa Heads for the Clouds -- eProcurement, T&E and Beyond (Part 2)." March 18, 2010. Retrieved February 9, 2012.
  11. ^ a b Larry Dignan, ZDNet. "Five questions with Coupa Software CEO Rob Bernshteyn." June 18, 2010. Retrieved January 27, 2012.
  12. ^ a b c d Anthony Ha, VentureBeat. "Coupa raises $6M to manage business spending." April 9, 2008. Retrieved January 27, 2012.
  13. ^ Larry Dignan, ZDNet. "On-demand software squared: Coupa launches SaaS e-procurement system running on Amazon’s EC2 service." October 19, 2007. Retrieved January 30, 2012.
  14. ^ Jason Busch, Spend Matters. "Coupa and Ariba – Analyzing Comparative Claims (Part 2)." February 25, 2010. Retrieved January 27, 2012.
  15. ^ a b Leena Rao, TechCrunch. "Coupa Raises $12 Million To Help Companies Spend Smarter." February 15, 2011. Retrieved January 30, 2012.
  16. ^ Robin Wauters, TechCrunch. "Coupa Raises $7.5 Million, Helps Companies Spend Smarter." September 1, 2009. Retrieved January 16, 2012.
  17. ^ Dennis Howlett, ZDNet. "The clouds are gathering for Coupa." August 7, 2009. Retrieved January 16, 2012.
  18. ^ Information Management. "5 Companies that Stand Out." November 1, 2011. Retrieved January 23, 2012.
  19. ^ Antone Gonsalves, InformationWeek. "Coupa Brings Amazon.com Look To E-Procurement." March 21, 2007. Retrieved January 30, 2012.
  20. ^ Justin Kern, Information Management. "New Product News." November 17, 2011. Retrieved February 9, 2012.
  21. ^ 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.
  22. ^ Jason Busch, Spend Matters. "A P2P Vendor Crosses the Analytics Line: Coupa Ventures Into Spend Analysis (Part 1)." November 16, 2011. Retrieved February 9, 2012.
  23. ^ Peter Smith, Spend Matters. "Coupa get your procurement spend organized." November 16, 2011. Retrieved February 9, 2012.
  24. ^ Du Preez, Derek (17 October 2014). "Coupa and NetSuite form 'unique' selling partnership". Diginomica. Retrieved 14 November 2014. 
  25. ^ Winegarner Beth (April 2, 2014). "Rival Stole Trade Secrets On Top of Copying IP, Ariba says". Law360. 
  26. ^ "Ariba Settles Trade Secrets Litigation with Coupa". Reuters. Sep 24, 2015. 
  27. ^ Jeffrey Kaplan, Datamation. "SUBWAY Heads Down the Cloud Computing Highway." July 21, 2011. Retrieved January 30, 2012.
  28. ^ a b Patrick Thibodeau, Computerworld. "Subway changes its menu, adds SaaS." July 20, 2011. Retrieved January 30, 2012.
  29. ^ a b David F. Carr, Forbes. "Taking The Amazon.com Approach." December 17, 2010. Retrieved January 30, 2012.
  30. ^ Du Preez, Derek (October 17, 2014). "Coupa and NetSuite form 'unique' selling partnership". Diginomica. Retrieved November 14, 2014. 
  31. ^ Olivera, Xavier; Mitchell, Pierre (20 August 2015). "Coupa Reports Best Quarter Ever – No Surprises Here". Spend Matters. Retrieved 25 March 2016. 
  32. ^ Wilson, Deborah R.; Rizza, Mickey North (11 April 2011). "Cool Vendors in Procurement and Sourcing Technology, 2011". Gartner. Retrieved 17 March 2016. (registration required (help)). 
  33. ^ Jones, Duncan (13 May 2014). "eProcurement, Q2 2014". The Forrester Wave. Forrester Research, Inc. Retrieved 17 March 2016. (subscription required (help)). 
  34. ^ 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. (registration required (help)). 
  35. ^ "Coupa Software Welcomes Scott Thompson to Its Board of Directors" (Press release). Business Wire. 2 April 2013. Retrieved 17 March 2016. 
  36. ^ "Our Offices". Coupa. Retrieved 22 March 2016. 
  37. ^ "Coupa Appoints Tara Ryan Chief Marketing Officer". Coupa Software Inc. 30 October 2014. Retrieved 10 March 2016. 
  38. ^ "Coupa Welcomes Roger Siboni to its Board of Directors". Coupa Software Inc. 18 September 2014. Retrieved 10 March 2016. 
  39. ^ "Coupa Software Taps CFO With IPO History". The CFO Report. The Wall Street Journal. 3 June 2015. Retrieved 17 March 2016. 
  40. ^ Kase, Thomas (11 February 2015). "Coupa Acquires Sourcing Solutions Startup ZenPurchase". Spend Matters. Retrieved 17 March 2016. 
  41. ^ Kepes, Ben (6 July 2015). "Coupa acquires InvoiceSmash to bring clarity to invoicing". Network World. Retrieved 17 March 2016. 
  42. ^ Gagliordi, Natalie (20 July 2015). "Coupa buys travel technology startup TripScanner". ZDNet. Retrieved 17 March 2016. 
  43. ^ Gagliordi, Natalie (14 January 2016). "Coupa buys contract management software maker Contractually". ZDNet. Retrieved 17 March 2016. 
  44. ^ Wauters, Robin (1 September 2009). "Coupa Raises $7.5 Million, Helps Companies Spend Smarter". TechCrunch. Retrieved 28 March 2016. 
  45. ^ Jon Brodkin, NetworkWorld.com. "10 enterprise software companies to watch." April 11, 2007. Retrieved January 23, 2012.
  46. ^ VentureBeat. "Coupa, an e-procurement software company, raises money." March 14, 2007. Retrieved January 30, 2012.
  47. ^ WSJ: Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups - WSJ, accessdate: April 14, 2016
  48. ^ TMC Labs Announces TMC's CUSTOMER Magazine's 2012 Innovation Awards Winners: TMC Labs Announces TMC's CUSTOMER Magazine's 2012 Innovation Awards Winners, accessdate: April 14, 2016

External links[edit]