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Coupa Acquires Riskopy for Advanced Data Aggregation Engine
Helps Company Deliver Vision of Community Intelligence
SAN MATEO, CA – May 17, 2017 – Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced that it has acquired substantially all of the assets of Riskopy, Inc. The acquisition helps Coupa aggregate Coupa platform and 3rd party supplier risk data into a profile score. This profile score, Coupa transactional data, and other Coupa network data is then incorporated in Coupa’s community intelligence innovation.
Based in the San Francisco Bay area, Riskopy’s analytics engine combines conventional and alternative data sources in a proprietary algorithm.
“When we created Riskopy, we set out to collect near real-time supplier data to identify risk and uncover new opportunities in the world of business finance,” said Ahmad Sadeddin, founder of Riskopy. “We’re thrilled to be a part of the team creating next generation supplier risk solutions.”
Riskopy uses a combination of financial data and event data to create a view into supplier risk. Financial data includes a company’s fiscal health, such as growth rate, size, sector, and country standing within global economy. Event data includes items such as court filings, corporate filings, currency, and news sentiment.
“Riskopy’s aggregation engine helps us accelerate our vision of Coupa community intelligence.” said Raja Hammoud, vice president of product marketing and management at Coupa. “Riskopy brings both 3rd party supplier data knowledge and advanced technology to our team and it has been a pleasure working with them.”
Born in the cloud, Coupa delivers a modern spend-management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the Coupa Open Business Network, the platform has connected more than 3 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.
Financial terms of the acquisition were not disclosed. Coupa is not updating its guidance for its fiscal year ending January 31, 2018, which it provided on March 13, 2017. The acquisition is not expected to have a material impact on Coupa’s results of operations or financial condition for its fiscal year ending January 31, 2018.
This release includes forward-looking statements. All statements other than statements of historical facts, including the quotations, statements regarding the acquisition of Riskopy, including the proposed benefits, statements regarding our guidance and the effect of the acquisition on our results of operations and financial condition, and statements regarding the capabilities of Coupa and Riskopy following the acquisition, are forward-looking statements. These forward-looking statements are based on Coupa’s current expectations and projections about future events and trends that Coupa believes may affect its financial condition, results of operations, strategy, short- and long-term business operations and objectives, and financial needs.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including: difficulties with the integration process or the realization of the benefits of the acquisition; we have a limited operating history, which makes it difficult to predict our future operating results; if we are unable to attract new customers, the growth of our revenues will be adversely affected; because our platform is sold to large enterprises with complex operating environments, we encounter long and unpredictable sales cycles; if we fail to develop widespread brand awareness cost-effectively, our business may suffer; the markets in which we participate are intensely competitive; our business depends substantially on our customers renewing their subscriptions and purchasing additional subscriptions from us; any decline in our customer renewals would harm our future operating results; because we recognize subscription revenues over the term of the contract, fluctuations in new sales will not be immediately reflected in our operating results and may be difficult to discern; and we have experienced rapid growth in recent periods, and if we fail to manage our growth effectively, we may be unable to execute our business plan, maintain high levels of service or adequately address competitive challenges.
These and other risks and uncertainties that could affect Coupa’s future results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Coupa’s annual report on Form 10-K filed with the SEC on April 3, 2017, which is available at investors.coupa.com and on the SEC’s website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa’s expectations as of May 17, 2017, except as otherwise noted. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver “Value as a Service” by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability. Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally. The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.