Welcome!

SAP HANA Cloud Authors: Carmen Gonzalez, Liz McMillan, Sematext Blog, Elizabeth White, Yeshim Deniz

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
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things 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 and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
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...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...