13th Consecutive Quarter of Record First Year Bookings Growth Highlights Company’sTrajectory As a Dominant Leader In Cloud Spend Optimization
SAN MATEO, Calif. – April 5, 2012 – Coupa Software, the leader in cloud spend optimization software, today announced a highly successful first quarter in 2012, extending the growth momentum announced at the end of 2011 and citing a 130% percent rise in Annual Contract Value this quarter over the prior year’s quarter.
“Q1 2012 officially marked our 13th consecutive quarter of new annual contract value growth,” said Rob Bernshteyn, CEO of Coupa. “Our success is directly attributed to our growing enterprise customer base and reflects the surging demand for an intuitive, cloud-based solution that helps businesses gain visibility and control over all areas of spend. Our customers depend on Coupa to create a culture of responsible spending, and we expect continued demand as we look ahead to Q2.”
Due to its ease-of-use which drives end user adoption and ultimately greater savings, Coupa has attracted large enterprises to its customer roster during Q1 2012 that include: Amerinet, Avalon Health Care Group, Citizens Republic Bancorp, Inc., Corbus, LLC, and Service Corporation International. Additionally, Coupa’s Q1 2012 customer highlights reflect the company’s strong international reach: Colliers International (implementing Coupa in Canada and the United States) and Quiznos India.
Key highlights from Coupa’s fiscal 2011 success story include:
“In my opinion, the simple genius of Coupa is that they came up with a usability philosophy designed to maximize the transactional capture of spend throughout an enterprise with a single system – indirect, direct, services or otherwise,” said Jason Busch, managing director, Spend Matters Group. “Coupa’s market leading growth rate is no surprise.”
About Coupa Software
Founded in 2006, Coupa Software is the leader in cloud-based spend optimization software. More than 200 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending up to 11 percent. Only Coupa provides a true cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: www.coupa.com or call (650) 931-3200. Read more at our company blog, the Coupa Cabana, or follow @Coupa on Twitter.