Today, Coupa Software has announced that Blackstone, the investment and advisory firm, has selected Coupa as its spend management solution and has made a limited investment in the company. Some Blackstone portfolio companies already use Coupa, and the Coupa-Blackstone relationship will now be leveraged at other portfolio companies in coming months.
We’ve all heard of – and have probably partaken in products from – companies like McDonald’s, Subway and Coca-Cola. But to whom do these mega-corporations turn when they are looking for procurement solutions and expense management solutions? The one company that can meet the needs of these three giants and over 250 more is Coupa.
Coupa helps companies across many verticals, including food service, financial, retail and more. According to Ravi Thakur, vice president of customer success at Coupa, the company provides best-in-class, easiest-to-use services. When companies sign up for their services, they are able to optimize their spend through the cloud.
Sanket Naik took a six-week trip last year to Thailand and India to see his family, but he didn’t worry about using up all his alloted vacation time.
Naik, senior director of cloud operations at Coupa, a tech startup, doesn’t have to accrue days off, and he didn’t negotiate a plum deal with his employer. The company just gives him and its staff of 100 all the vacation days they want.
“There’s the flexibility to travel or fulfill personal commitments without violating HR policies. We don’t have to count anymore,” he said about Coupa’s vacation policy, which was implemented in January.
Check out our VP of Customer Success, Ravi Thakur, with Rich Tehrani of TMCnet. Watch the video here.
Coupa keeps growing.
Coupa`s Growth Velocity Continues in Q2 With 14th Sequential Quarter of Record Growth -- Coupa Software, the leader in cloud spend optimization software, today announced Q2 2012 results, highlighted by a 185 percent increase in the amount of spend through its platform, compared to Q2 2011. Further illustrating the momentum, Coupa posted its 14th sequential quarter of growth in new annual contract value. To fund growth, Coupa completed a $22 million Series E round of funding in May, led by new investor Crosslink Capital. Venture capital firms Battery Ventures, BlueRun Ventures, El Dorado Ventures and Mohr Davidow Ventures continued their commitment to Coupa by also participating in the round.
With continuous growth for the past 14 quarters, 95% renewal rates for subscriptions, and 126% growth in annual contracts, Coupa’s CEO Rob Bernshteyn seems to be way ahead of his competition. Yet, he still considers Coupa the underdog in the e-procurement platform industry.
The company even pulled in Coca-Cola Bottling, Orbitz, and AAA Insurance into their roster. Oh and they just raised another $22 million in Series E led by Cross Link Captal. I forgot to mention they were also voted one of the best places to work in the Bay Area by the San Francisco Business Times. It’s like some sort of idyllic Charlie and the Chocolate Factory scenario playing out over at Coupa’s offices.
Hiring has been weak for the past few months, with the unemployment rate at a steady, high 8.2 percent. Those of you lucky enough toscore an interview can't afford to bring anything less than your A-game in this job market. Here are some of the best ways successful candidates have left a stellar impression on an employer during an interview:
1. For non-creative jobs, bring one sample of your best work. While a portfolio filled with brilliant samples is not required for non-creative jobs—leaving one example of your best accomplishment is a great way to leave a lingering presence long after your interview. This can mean any tangible evidence of great work you've done in the past, whether it be reports, guidelines, media clippings, or awards. Entrepreneur and Manager Trainer Karen Southall Watts warns against overloading your interviewer with too many samples for non-creative jobs. "Years ago, I actually did this myself and the hiring manager was really overwhelmed and didn't seem to know how to react," she says.
Enterprise spending on cloud computing growing at a faster rate than overall IT spending will pose a challenge to legacy hardware and software vendors, Gartner cloud forecaster Ed Anderson says.
Cloud computing is expected to grow 19% in 2012, becoming a $109 billion industry compared to a $91 billion market last year. By 2016, it's expected to be a $207 billion industry, according to Anderson's latest findings. That compares to the 3% growth expected in the overall global IT market. While it's true that the $109 billion cloud market represents just a 3% chunk of the overall $3.6 trillion spent on IT globally, Anderson says it's still responsible, in part, for a slowdown in growth for traditional on-premise hardware and software sales.
This year is whooshing by! It feels like just yesterday when Beyoncé gave birth to the coolest baby on the planet; KimDotcom finally got popped for his ginormous (alleged) media piracy operation; and LeBron James literally jumped over Chicago Bulls’ John Lucas for a slam dunk.
The business community, including the analysts and commentators, have for a long time been obsessed with two things about e-procurement solution vendors, both of which are irrelevant. The first is functionality – the second is share price.
No wonder e-procurement doesn’t work.