Meritech Capital Partners Leads Fundraising for Spend Optimization Applications Leader
SAN MATEO, Calif. – March 20, 2014 – Coupa Software, the leading provider of cloud-based solutions for finance, today announced that it has closed a $40 million Series F investment round, bringing total investment in Coupa to $87.5 million to date. Meritech Capital led the funding round, with participation from Icon Ventures and Northgate Ventures. Existing investors Crosslink Capital, Mohr Davidow Ventures, Battery Ventures, El Dorado Ventures, and Blue Run Ventures also participated. George Bischof, the managing director of Meritech Capital Partners, will join Coupa’s board as an observer.
Global Healthcare Leader launches Coupa Cloud project
SAN MATEO, Calif. – March 20, 2014 – Coupa Software, the leading provider of cloud solutions for finance, today announced that Sanofi, a global integrated healthcare leader with operations in more than 100 countries, has selected Coupa’s cloud procurement software to replace its existing on premise solutions and possibly roll it out in 85 countries.
Following an internal review of the company’s procurement process and systems, Sanofi decided to transition to a cloud-based solution to support its new strategy. The goal was to simplify and streamline their spend management process, and improve user experience. After an extensive internal assessment of the business and functional needs, a review of the technological environment and an evaluation of several vendors and potential partners, Sanofi selected Coupa.
Tom Aitchison named Executive Vice President of Global Sales
SAN MATEO, Calif. – March 4, 2014 – Coupa Software, the leading provider of cloud solutions for finance, today announced that former InQuira executive Tom Aitchison has joined the company as the new Executive Vice President of Global Sales, effective immediately. Aitchison, an accomplished sales veteran with a successful track record in managing sales organizations of high-growth companies, will be responsible for expanding Coupa’s rapid global growth.
Colombia Compra Eficiente on track to roll out Coupa to 20,000 users by 2015
San Mateo, California & Bogotá, Colombia – February 25, 2014 – Coupa Software, the leading provider of cloud solutions for finance, today announced that the government of Colombia is currently rolling out Coupa, targeting savings of $1 billion by Q3 of 2014. The news comes ahead of the latest report from new government agency, Colombia Compra Eficiente (CCE), or “Colombia Buys Efficiently,” which will be released at an accountability event on Wednesday, February 26 at 9am COT in the Tequendama Hotel in Bogotá, Colombia.
WHAT: Coupa Software, the leading SaaS provider of cloud-based financial solutions, today announced the speakers for INSPIRE 2014, its annual user conference. Finance professionals, procurement leaders and industry analysts will gather to exchange best practices for reducing costs and learning about Coupa’s announcements of new solutions.
Financial Cloud Apps Leader Exceeds 100% Revenue Growth for Fifth Consecutive Year, while bringing a record number of customers live on the Coupa platform.
SAN MATEO, Calif. – February 11, 2014 – Coupa Software, the leading provider of cloud-based financial solutions, today announced its 2013 results, highlighted by more than 100 percent revenue growth for five consecutive years. Coupa achieved extraordinary results across the business including signing a major alliance agreement with KPMG, growing its international customer base across Europe, Latin America and Asia Pacific and launching new vertical market solutions.
Leader in Cloud Financial Apps Posts 100 Percent Growth in Revenue and Subscription Renewal and Delivers New Vertical Market Solutions
SAN MATEO, Calif. – November 5, 2013 – Coupa Software, the leading provider of cloud solutions for finance, today announced third quarter 2013 results, highlighted by a 100 percent increase in revenue and subscription renewals over Q3 2012, and the launching of five new vertical market solutions. Additionally, the company has posted 19 quarters of sequential subscription revenue growth.
Technology arm of Saudi Arabian government deploys Coupa in less than 30 days
SAN MATEO, Calif. – October 29, 2013 – Coupa Software, a leading provider of cloud-based applications for finance, today announced that the investment arm of the Saudi Ministry of Finance, Al-Elm Information Security, has selected and successfully implemented Coupa to automate its spend management processes, resulting in increased business agility and improved efficiencies as the company continues to grow.
Al-Elm provides advanced e-solutions and IT development for the government sector. Amid the company’s expansion this year, Al-Elm’s finance department was struggling with the time-intensive and inefficient process of manually approving purchase orders and requisitions. Management wanted to standardise its purchasing practices with a simple-to-use solution that would encourage user adoption, reduce costs and deliver better managerial oversight into the accounting process.
Expanded alliance of market leaders aimed at helping clients achieve savings and user adoption
SAN MATEO, Calif. – October 22, 2013 – Coupa Software, a leading global provider of cloud-based applications for finance, today announced a strategic alliance with KPMG Australia. The companies are expanding on the successful alliance already in existence in the USA, to help clients transform their approach to procurement to achieve bottom-line savings.
For most companies, the procure-to-pay (P2P) process typically ties up significant amounts of capital that could otherwise be invested in growing the business. Manual procurement processes, lengthy management approvals, manual reconciliations, and lengthy payment cycles are among the many culprits that contribute to inefficiencies in the process. In addition, the general lack of integration with other business processes and systems create further inefficiencies and high transaction costs. Together, KPMG and Coupa will help reduce these inefficiencies and costs in their clients’ procurement processes.
NEC EMEA improves business responsiveness; Increases ‘control and management of spend’ by 50 percent
LONDON – October 8, 2013 – Coupa Software, the leading provider of cloud-based applications for finance, today announced that NEC Europe, a wholly owned subsidiary of NEC Corporation, has successfully rolled out Coupa to its EMEA offices, enabling the company to save time and support its cost optimization program through more effective use of purchase orders.
NEC wanted to further improve its purchase order process and maximize employee productivity with a simple-to-use solution that would drive user adoption, cut costs and provide manager oversight into the process. After a thorough review of other solutions on the market, NEC chose to invest in a Coupa cloud-based solution.
Since deployment at the end of Q1 2013, the company has achieved up to 65 percent compliance