The story
Dave Stephens and Noah Eisner founded Coupa in 2006. Rob Bernshteyn took over as Coupa's CEO in February 2009. In September 2009, Coupa secured a $7.5 million Series C funding round.
In May, Ariba, a unit of SAP and a competitor of Coupa, filed a lawsuit alleging that Coupa misappropriated Ariba trade secrets. Also in 2014, the company expanded globally, announcing new operations in Dublin, Ireland.
In February 2015, Coupa acquired the assets of ZenPurchase, an enterprise procurement software company, as well as acquiring InvoiceSmash, an e-invoicing vendor, and TripScanner, an open booking vendor, in July. On September 24, 2015, Ariba and Coupa settled their lawsuit. Coupa acknowledged its possession of Ariba information and is required to abide by certain procedures to prevent any misappropriation in the future. Coupa paid Ariba an undisclosed amount.
In January 2016, Coupa acquired Contractually, a cloud-based contract management solution.
In 2020, Coupa acquired AI supply chain design company LLamasoft.
In 2021, Coupa debuted its new venture capital fund, Coupa Ventures.
In May 2022, Coupa added analysis features to its procurement management software to track Scope 1, 2 and 3 emissions reductions and how these contribute to supplier sustainability goals.
In December 2022, Thoma Bravo outbid Vista Equity Partners to announce its acquisition of Coupa for $6.15 billion in cash, and a total enterprise value of $8 billion.
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Leadership
In May 2023, Rob Bernshteyn departed as CEO after 14 years as CEO and chairman; Leagh Turner subsequently became CEO of Coupa in November 2023. Turner most recently served as co-CEO of Ceridian.
In September 2024, Salvatore Lombardo joined the company as Chief Product and Technology Officer.
From Wikipedia’s article on Coupa, shared under CC BY-SA 4.0.7