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Coupa Software Appoints Software Industry Veteran Rob Bernshteyn as CEO
Bernshteyn Joins Company to Accelerate Growth and Market Adoption of Coupa eProcurement
San Mateo, Calif. - February 12, 2009 - Coupa Software, the leading provider of on-demand purchasing software to control business spending and costs, announced today the appointment of Rob Bernshteyn as chief executive officer. Mr. Bernshteyn will also join Coupa’s Board of Directors. Bernshteyn’s leadership building an on-demand business at SuccessFactors will be instrumental in driving continued growth at Coupa, which ended 2008 with a 5x increase in customers and a 16x increase in spend through the Coupa platform.
Bernshteyn was most recently a member of the SuccessFactors executive management team serving as their global vice president of product marketing and management. Bernshteyn contributed to delivering a 15x increase in revenues and a 20x increase in company valuation in the three years leading up to the company’s IPO. Before SuccessFactors, Bernshteyn directed product management at Siebel Systems, where he contributed to building their Employee Relationship Management (ERM) suite of applications into Siebel’s fastest-growing product two years after launch. Before that, Bernshteyn was an associate at McKinsey & Company and a global project manager at Accenture where he managed numerous successful global SAP enterprise resource planning (ERP) software implementations. Bernshteyn earned a B.S. Degree in Information Systems from the State University of New York at Albany and an M.B.A. from Harvard Business School.
“With the rapid growth we’ve experienced, Coupa now needs a CEO equipped to scale and drive our business for prolonged success,” said Coupa co-founder Dave Stephens. “Rob’s track record at SuccessFactors, Siebel, McKinsey and Accenture equip him especially well for leading Coupa. I’m confident that under his leadership we will fully capitalize on the demand that today’s difficult economy creates for solutions such as Coupa’s.” Stephens will remain with the company as Coupa’s Chief Evangelist with responsibility for customer advocacy and business development initiatives.
“Coupa offers an ideal solution for businesses to effectively control their spending, a critical activity in a climate where every smart executive is focused on running a lean business and scrutinizing company expenditures. While previous choices were manual processes or lengthy ERP deployments and their associated complexities, the Coupa platform is unique. Coupa’s innovative approach enables companies to implement a fully functional purchasing system in hours, offers truly unparalleled consumer-driven usability, and eliminates the need for any up-front investment in hardware or software via the software-as-a-service model. With the addition of affordable subscription pricing and a fully functional 30-day free trial, you have a solution where you don’t need to spend much money to save a lot of money. I’m excited to join the Coupa team and begin executing on our bold vision for this market-leading solution and company.”
"We are excited that Rob is joining Coupa as CEO," said Mark Sherman, general partner with Battery Ventures and Coupa board member. "Rob's track record of SaaS and enterprise software success, strong leadership experience, and organizational skills will help drive Coupa and its continued growth."
About Coupa Software
Coupa is the leading on-demand provider of solutions that control and streamline purchasing for organizations beyond the Fortune 500. Coupa eProcurement delivers a simple, quick and affordable solution for requisitioning, purchase orders, RFQs, inventory and invoicing, with no hardware to buy or software to license. With deep domain knowledge in eprocurement, a best-in-class software-as-a-service platform, and a network of more than 2300 suppliers, Coupa enables companies to greatly increase efficiencies and save money quickly. For more information please visit, a href="https://www.coupa.com">https://www.coupa.com or call 650.585.6306.