Welcome!

SAP HANA Cloud Authors: William Schmarzo, Pat Romanski, Ian Khan, Elizabeth White, Liz McMillan

News Feed Item

Record 2012 Results Confirm Coupa’s Market Leadership in Spend Management

Coupa Software, the leading provider of cloud-based spend optimization solutions, today announced its 2012 results, highlighted by more than 100 percent revenue growth for the fourth consecutive year.

“Q4 marked the end of an exceptional year for Coupa,” said Rob Bernshteyn, CEO of Coupa. “Our growth trajectory continues largely because Coupa takes a unique approach. Unlike traditional software companies, our measures of success aren’t installing and maintaining software. As a cloud service, we are driven by delivering real value to our customers and helping them realize significant savings on their spend in record time.”

Q4 and 2012 Coupa highlights include:

  • Revenue: Coupa delivered annual revenue growth in excess of 100 percent. Q4 2012 revenue also grew more than 100 percent over Q4 2011. Q4 2012 revenue grew more than 40 percent over Q3 2012.
  • Renewals: Over the past 16 quarters, Coupa has maintained incredibly consistent contract renewal rates that have been upwards of 90 percent. In Q4 2012, contract renewal rates were at 94 percent.
  • Platform Growth: Spend through the platform more than tripled in 2012 over 2011.
  • New Partners: Coupa is the most partner-friendly company in the industry and worked to bring on more than 50 new ecosystem partners in 2012.
  • Employees: Coupa increased its employee base worldwide in 2012 by more than 70 percent during 2011 and is continuing to hire. To support burgeoning demand for spend optimization solutions, the company opened an office in Chicago, Reno, Nev., and will open a second office in San Mateo, Calif., later this month.
  • Industry Recognition: In 2012, The Wall Street Journal named Coupa “The Next Big Thing.” In Q4 2012, Coupa was ranked No. 115 on Deloitte’s Technology Fast 500™, was recognized as a “fastest-growing company” by BestinBiz 2012 and was selected by PayStream Advisors as a Technology Excellence Award winner.
  • Supplier Milestone: Coupa enabled more than 650,000 worldwide suppliers, creating a global supplier ecosystem.

Customer Momentum

Customer wins in Q4 2012 included Jo-Ann Stores Inc. (U.S.), The Weather Channel Interactive (U.S.), SquareTrade (U.S.) The ServiceMaster Company (U.S.), Bourne Leisure Holdings Limited (U.K.), Spotify (Sweden), NEC Europe Ltd. (U.K.) and NNIT (Denmark), among others.

As the largest specialty retailer of fabrics and crafts in the United States with approximately 790 stores in 49 states, Jo-Ann Stores Inc. needed a spend optimization solution that would meet its current and growing needs.

Tom Dryer, vice president, controller for Jo-Ann Stores said, “We looked at several solutions, and determined that Coupa was the best fit to provide us with a complete solution and seamless integration with our existing financial systems. We look forward to working with Coupa to achieve our goals of managing our spend and contributing to the bottom line.”

Existing customers like The Blackstone Group L.P. (U.S.), Toronto-Dominion (TD) Bank (Canada), Toyota Motor Sales, U.S.A. Inc., Kelly Services Inc. (U.S.), RealNetworks Inc. (U.S.), Journal Communications Inc. (U.S.) and Salesforce.com (U.S.) experienced such great success with the Coupa platform that they decided to grow their implementations to further optimize their spend.

“Our implementation experience with Coupa was excellent – one of the best we’ve had with any of our more than 20 cloud vendors,” said Chris Lavoie, director, application development and ERP at Enterasys Networks, Inc. “We looked closely at SAP, and briefly at other offerings in the space, before choosing Coupa, which fit our cloud-first strategy and offered a full-featured platform. We have had great success with Coupa and dramatically reduced our requisition approval cycle time by more than 300 percent while increasing our spend volume as compared to our previous solution.”

“We chose the Coupa platform specifically over Ariba and others like Ariba due to the supplier pay model,” said Hyrum Kirton, vice president of procurement for Avalon Health Care, Inc. “Our company needed a solution that was all-inclusive and would incentivize the company to use it as much as possible without the supplier or ourselves incurring any additional fees. We have successfully implemented the solution with some complex suppliers that supply health care-related items that in some cases are matters of life and death.”

Finally, in Q2 2012, Coupa raised $22 million in a Series E funding round, led by new investor, Crosslink Capital. The funding is being used to fuel global expansion, and as of Q4 2012, Coupa reached more than 300 customers worldwide.

About Coupa Software

Founded in 2006, Coupa Software is the leading provider of cloud-based spend optimization software. More than 300 customers in 40 countries use the Coupa purchasing and procurement software to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...