Press Releases

Procurement Experts Form Coupa

Founders Select Ruby on Rails as Development Platform for Industry’s First Open Source E-procurement Software

Foster City, Calif. - June 5, 2006 - Two former Oracle e-procurement executives today announced the formation of Coupa Software, a new venture that will offer a simplified, affordable approach to corporate purchasing. Leveraging years of experience in developing e-procurement systems for some of the world’s leading businesses, Dave Stephens and Noah Eisner launched Coupa with the vision of bringing a full-featured corporate purchasing solution to small and mid-sized enterprises. For the first time, companies of all sizes can enjoy the under-delivered benefits of e-procurement - saving money, improving operating efficiency and reducing the risk of fraud.

Together, Stephens and Eisner built and grew the Oracle procurement solution, which was popular among Fortune 1000 users of Oracle applications and tools. They formed Coupa in recognition of a common problem they had witnessed across the industry - that lack of employee buy-in, rather than lack of technical excellence, was impacting the business value delivered by the e-procurement product category. By designing its software to appeal to corporate purchasing managers and “every day” employees alike, Coupa’s unique approach will reverse this trend.

As part of today’s news, Coupa is also announcing its selection of Ruby on Rails, an enterprise application framework whose productivity capabilities support rapid and inexpensive innovation and expansion, as its development platform. With this choice, Coupa expects to bypass the typical 12-24 month innovation-to-product cycle common in today’s enterprise applications world. More importantly, because this is an open source project, development teams will be able to quickly customize the solution to suit their own unique environments, while also sharing product extensions with the Coupa developer community.

Coupa will offer procurement and financial executives a rich set of purchasing business management capabilities as well as an innovative Web 2.0 architecture. The solution’s functionality will provide employees with the comfortable, familiar user interfaces found in today’s favorite e-commerce sites. Additionally, the improved shopping and peer-rating experience will help to drive broad employee use, and ultimately, greater corporate ROI.

About Coupa Software

Coupa was founded in 2006 to fulfill the promise of effective procurement for companies of all sizes. Coupa simplifies purchasing for employees while providing much-needed control for the purchasing department.

For more information please visit www.coupa.com or call 650.585.6306.