Coupa invests in Rheaply to drive Sustainable Business Spend Management
Coupa has always recognized that businesses want to optimize their spend based on many considerations to create value-based outcomes. We’ve remained committed to supporting customers as their needs evolve around cost, efficiency, risk, and compliance. Sustainability has now become another major consideration.
Coupa’s long-term commitment to Sustainable Business Spend Management for ethical purchasing
It's becoming more important for our customers to make buying decisions that minimize environmental impact. Coupa values this greatly. Helping businesses spend in an environmentally sustainable way is part of our mission. We release an annual ESG report, follow our own corporate sustainability framework, and give more options to leverage the Coupa BSM platform for environmentally conscious spend.
As we double-down on our commitment to Sustainable Business Spend Management, Coupa Ventures is pleased to announce its latest investment in Rheaply.
Coupa and Rheaply forge a new partnership around sustainability and the circular economy
Rheaply is on a mission to bring circularity to all the world’s resources. Rather than pursuing the current “take-and-dispose” model of business spend, Rheaply enables the re-use and repurposing of materials. Specifically, the platform allows organizations to track all of their physical assets, as well as buy, sell, trade, donate, and rent resources through a digital marketplace. Everything from office furniture to IT assets are given a new useful life, reducing spend and environmental waste.
Leading this vision is Rheaply CEO Garry Cooper. Garry spawned his first circular initiative while finishing his PhD in Neuroscience at Northwestern University, where he was researching a cure for Parkinson’s Disease. He noticed that the lab had a lot of material they were not using, from chairs, to plastics, to chemicals. At the same time, fellow researchers were constantly looking for material that was often buried somewhere in the closet or in other labs. So, Garry started a resource sharing platform in the form of a simple chart. As the concept quickly took off at Northwestern, he realized there was an opportunity to take the concept to any organization. With that, the idea of Rheaply was born.
Coupa Ventures is proud to be partnering with Garry and the growing Rheaply team as they bring their circular vision to more organizations across the world.