Milestone Recognizes Coupa’s Impact on Spend Optimization Industry
SAN MATEO, Calif. – October 2, 2012 – Coupa Software, the fastest-growing provider of cloud-based spend optimization solutions, today announced that it ranked as No. 44 on The Wall Street Journal’s “The Next Big Thing” list, which seeks to identify and rank venture-backed companies across all industries that have the capital, executive experience and investor know-how to succeed. Earning a spot on the list means that Coupa is recognized as one of the 50 most promising, venture-backed companies in the U.S.
“Being selected from a pool of nearly 11,500 companies across different industries is truly an honor. For enterprise software, companies are realizing that the traditional on-premise model doesn’t work anymore. SaaS (Software-As-A-Service) solutions like Coupa allow customers to quickly be successful,” said Rob Bernshteyn, CEO of Coupa. “This milestone further energizes us to continue to improve the face of spend optimization – by making it an easy-to-use, powerful approach to helping customers to rein in their company spend.”
Coupa's ranking is based on proprietary data from Dow Jones VentureSource and input from Dow Jones VentureWire’s reporters and editors. Key criteria for ranked companies on the list include fundraising success, recent growth in the company’s value and the track record of its founders and board members. The editorial staff of Dow Jones VentureWire also reviewed and ranked the startups based on their knowledge of the companies’ products, competition and financial performance.
“Venture capital investors aren’t just looking for successful companies; they are looking for explosive growth,” said Alan Murray, deputy managing editor of The Wall Street Journal. “‘The Next Big Thing’ list highlights companies that have a chance of providing that kind of growth. They aren’t sure bets; they are high-risk, but potentially high-reward enterprises.”
The Next Big Thing is an annual ranking published by The Wall Street Journal. To be eligible for the ranking, a company must be based in the United States, have raised an equity round of financing in the three years ended June 30, 2012 and have a valuation of $1 billion or less. The ranking was calculated by applying a set of four financial criteria: the track records of success for both a company’s founders and management; track records for the investors on its board; the amount of capital raised in the last three years; and the percentage change in a company’s valuation in the last year. Dow Jones VentureWire reporters and editors also provided their perspective and expertise beyond the numbers.
To view “The Next Big Thing” ranking, visit http://on.wsj.com/QyJWBx.
About Coupa Software
Founded in 2006, Coupa Software is the fastest-growing provider of cloud-based spend optimization software. More than 250 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending costs 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: http://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.