Coupa Ranked 53rd Fastest Growing Company in North America on Deloitte’s 2014 Technology Fast 500™
Attributes 2,463 Percent Revenue Growth to Company’s Unwavering Commitment to Customer Success
SAN MATEO, CA – November 13, 2014 – Coupa Software,the leading provider of cloud-based spend management solutions for finance, today announced it ranked 53rd on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Technology Fast 500 award winners for 2014 were selected based on percentage fiscal year revenue growth during the period from 2009 to 2013. Coupa grew 2,463 percent during this period.
Rob Bernshteyn, CEO of Coupa, credited Coupa’s cross-company focus on customer success and product innovation as the primary factors that contributed to its ranking.
“We are thrilled with our company’s ranking on the Technology Fast 500 list,” said Bernshteyn. “Coupa’s incredible growth during this period was fueled by our unwavering commitment to making our customers successful. We’re building upon this momentum in 2014 with a growing customer base, expanding global operations and industry-leading product innovation. Our business partnership with Deloitte Consulting is also a key factor in our continued growth and success in the marketplace.”
“The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015.”
“For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies’ DNA,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “We’re glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas.”
Overall, 2014 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 123,678 percent from 2009 to 2013, with an average growth of 1,640 percent.
Coupa’s strong performance has continued in 2014. Earlier this week, Coupa announced record performance during its third quarter of 2014, marking its 23rd consecutive quarter of revenue growth, a record number of quarterly customer deployments and significant traction in its global expansion plans, including the opening of new offices in Dublin, Ireland; Paris, France and Frankfurt, Germany.
About Deloitte’s 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.