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Coupa Software
Coupa Software, a cloud spend management platform acquired by Thoma Bravo in 2023 for $8B, processes over $4T in business spend across enterprise...
Coupa Software
Coupa Software was founded in 2006 by Dave Stephens and Noah Eisner, initially building a cloud-based procurement platform that automated purchase orders and supplier management. Rob Bernshteyn joined as CEO in 2009 and shifted the company's focus to a unified spend-management suite covering procurement, invoicing, expense reporting, and accounts payable. Coupa's strategy centers on an AI-powered "Community Intelligence" layer that analyzes aggregated transaction data from its customer base to identify savings opportunities. The company targets mid-market and enterprise buyers across manufacturing, retail, healthcare, and financial services, with notable deployments at Marriott, Nestlé, and Sanofi. Coupa has expanded through acquisitions, including Aquiire (procurement), Hiperos (third-party risk), and InvoiceSmash (AP invoice automation), building a platform that competes with SAP Ariba and Oracle Procurement Cloud. The firm maintains offices in San Mateo, California; Austin, Texas; London, UK; and Pune, India. Thoma Bravo acquired Coupa in February 2023 for $8 billion, taking it private in a deal that valued shares at $81 each. The private-equity firm, which targets enterprise software companies, has since rolled Coupa into a broader portfolio alongside Everbridge and ForgeRock, seeking to cross-sell spend-management capabilities. Coupa's revenue was approximately $800 million in its last public fiscal year (ending January 2023), with a reported 1,700 customers. A structural differentiator of Coupa is its use of community-sourced data: the platform analyzes spend patterns across its entire customer base to benchmark pricing and flag savings, a model that accrues more intelligence as adoption grows. Post-acquisition, Coupa operates as a standalone business within Thoma Bravo's portfolio, with governance aligned to the private-equity firm's operational playbook.
General information
Firm type
other
Year founded
2006
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Mateo
Corporate office
San Mateo, CA, United States
Principals
Rob Bernshteyn
CEO
Sector focus
Frequently asked questions
Who leads Coupa Software post-acquisition?
Rob Bernshteyn remains CEO after the Thoma Bravo take-private (per company announcements). The management team was retained with a mandate to accelerate product development and cross-sell into the PE firm's portfolio.
What product modules does Coupa offer?
Coupa's platform covers procurement, invoicing, expense management, accounts payable, contract management, and supplier risk. The Community Intelligence engine uses AI to benchmark pricing across the customer base.
How does Coupa make money?
Under the subscription model, customers pay annual licensing fees based on transaction volume or user count. The company also generates revenue from implementation services and a partner network.
Who are Coupa's primary competitors?
SAP Ariba and Oracle Procurement Cloud are direct competitors in enterprise spend management. Other competitors include Ivalua, Jaggaer, and Zycus in specific verticals.
How has Coupa performed financially since going private?
Financial data post-acquisition is not public. Before the deal, Coupa's fiscal 2023 revenue was $800 million with net losses narrowing (per SEC filings). Thoma Bravo does not disclose segment profitability.
What is Coupa's geographic footprint?
Headquartered in San Mateo, California, Coupa has development hubs in Austin, Texas, and Pune, India, plus sales offices in London, Paris, Sydney, and Tokyo.
Does Coupa still report as a public company?
No. Coupa was delisted from Nasdaq in March 2023 after the Thoma Bravo acquisition. It is now a private company and no longer files SEC reports.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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