Coupa Achieves Record Customer and Business Success with Savings-as-a-Service Platform

Coupa achieves growth exceeding 100 percent for the sixth consecutive year, accelerates global expansion, nearly doubles workforce and extends product offerings for inventory management and open business network

SAN MATEO, Calif.–(BUSINESS WIRE)–February 17, 2015–

Coupa Software, the world’s leading provider of cloud-based spend management solutions, today disclosed a number of key performance metrics that mark 2014 as a milestone year.

The company’s exceptional revenue growth, customer acquisition and retention rate, global scaling, and expanding portfolio of solutions and partners reflect rising demand and deepening market penetration.

• 100 percent increase in annual revenue – the company’s sixth consecutive year of doubling revenue
• Renewal rate exceeding 98 percent among existing customers
• Addition of more than 100 new customers — ranging from mid-enterprise to Global 1000 companies
• Industry record-breaking time-to-value – Coupa customers were fully implemented in an average of four months on the Savings-as-a-Service platform, with employees and suppliers rapidly adopting its consumerized user interface within hours
• Nearly $5 billion in calculated savings across the customer base
• Two million transactions per day with $120 billion in spend through the Coupa platform
• Greater than 99.99 percent measured uptime for the year
• Enhancements throughout its Savings-as-a-Service platform including a new inventory module, expanded open business network and patent-pending Supplier Actionable Notifications that disrupt traditional concepts of supplier participation
• Significant expansion in Coupa industry verticals including Coupa for Healthcare, Coupa for Financial Services, Coupa for High Tech and Coupa for Oil & Gas
• Deepening relationships with Accenture, IBM, KPMG, and Deloitte; along with new partnerships with industry leaders such as Netsuite, Alibaba.com, Box, Docusign and TrustWeaver
• $40 million in new funding and nearly doubling of worldwide workforce

“This was a banner year for Coupa as we continued to work tirelessly in reimagining the spend management space, with a laser focus on business value for our customers,” said Rob Bernshteyn, CEO of Coupa. “We are deeply humbled by our customers’ willingness to roll up their sleeves and work hand-in-hand with us to achieve real measurable success for their operations around the world.”

Coupa Adds an Average of Two Customers Per Week in 2014

A record number of customers subscribed to the Coupa cloud platform in 2014. New customers spanned vertical industries and ranged from mid-enterprise to Global 1000, including Aldridge Electric, APEI, Appfolio, Apptio, Ausdrill, AVG Technologies, Colas, Drillsearch, Hollister, Highmark Health, Lookout, LCMC Health, Southcentral Foundation, Royal Bank of Canada, Swiss Re, Technicolor, Veolia and others. Customers cited ease of use, economies of scale, immediate user adoption, reduced TCO and unprecedented ROI as primary reasons for working with Coupa.

Sanofi conducted an extensive 150-person evaluation of competing solutions before launching Coupa in three countries and across two SAP instances in 2014. Sanofi is now planning a rollout to its operations in an additional 70 countries.

“I wish we would have gone bigger sooner,” said Jean-Philippe Collin, Chief Procurement Officer of Sanofi. “The launch of the project has been a huge success.”

Expanded Suite of Solutions to Meet Customer Demand

Coupa is meeting demand by continually building out its full suite of globally compliant spend management solutions ranging from procurement, sourcing, invoicing, open business network, expense management and inventory. Coupa’s new inventory application combined with its best-in-class procure-to-pay platform builds upon the Coupa for Healthcare offering and delivers an industry solution that meets complex requirements and sensitive data needs.

Strong Renewals and Continued Installed Base Expansion

Customer renewals averaged more than 98 percent and hundreds of existing Coupa customers added on to their Coupa platform during the year, including Adidas Latin America, BNP Paribas North America, Concentrix, Molina Healthcare, NNIT A/S, Freeport-McMoran Oil and Gas and others. Coupa users are rapidly adding products and seats because of the ease of integration and consumer-like experience for employees and suppliers. Total spend managed on Coupa grew more than 100 percent in 2014 as compared to 2013.

Industry Record-Breaking Time-to-Value and Billions in Savings

For the more than 70 customers that went live in 2014, Coupa’s customers averaged a go-live time of four months. This rapid implementation and quick employee adoption translates directly into bottom-line savings for Coupa customers.

EMEA Emerges as Fastest-Growing Market

Coupa also grew its worldwide operations significantly in 2014 as EMEA became Coupa’s fastest-growing region. New operations were established in Dublin, Frankfurt and Paris. Asia Pacific and Latin America also demonstrated strong demand. The company substantially augmented sales, marketing, service and development organizations to meet the global customer demand in these regions.

“At Aggregate Industries, we’re 100 percent focused on delivering solutions that our business requires to continuously improve our operational performance,” said Gerard Cantwell, Director of Procurement at Aggregate Industries, a Coupa EMEA customer. “Partnering with companies like Coupa, who make savings and efficiencies a priority, helps us keep Aggregate Industries focused on our true operational needs as we continue to rapidly grow.”

$40 Million Injection of New Funding

Coupa raised an additional $40 million in March, bringing its total venture funding to $87.5 million to date. Meritech Capital led the round, with participation from Icon Ventures, Crosslink Capital, Mohr Davidow Ventures, Battery Ventures, El Dorado Ventures and Blue Run Ventures.

Strengthening Board and Leadership team

Coupa also appointed new senior leaders and expanded its board of directors to scale the business and keep up with international demand:

• Tom Aitchison joined as Executive Vice President of Global Sales. An accomplished sales veteran with a successful track record in managing sales organizations of high-growth companies, Tom is responsible for expanding the company’s rapid global growth worldwide.
• Tara Ryan joined as Chief Marketing Officer. She brings a wealth of experience running global marketing organizations and programs for high-growth companies such as Netsuite and Proofpoint.
• Laura MacKinnon joined as Vice President of People. Laura is responsible for the engagement and acquisition of top talent and for expanding Coupa’s brand and culture as the company rapidly grows around the world.
• Roger Siboni joined Coupa’s board of directors. Roger brings extraordinary leadership and operational experience, gained during more than 20 years at KPMG LLP, in roles such as Deputy Chairman, Chief Operating Officer and worldwide head of KPMG’s Technology Practice, along with CEO of CRM vendor Epiphany, Inc.

Industry Leadership

Coupa was recognized as a leader by analyst firms, business press and industry entities in 2014:

• “The Forrester Wave™: eProcurement Q2 2014″ – The leading analyst firm gave Coupa the highest scores for both Current Offering and Strategy
• Deloitte’s Technology Fast 500 – the firm ranked Coupa the 53^rd-fastest growing company in North America, citing 2,463 percent growth between 2009 and 2013
• Inc. 500 list for 2014 – Coupa’s debut on the annual list was highlighted by revenue growth of 1,023 percent between 2010 and 2013
• “Best Places to Work in the Greater Bay Area” – awards by the San Francisco Business Times and the Silicon Valley Business Journal
• Additional awards included AlwaysOn Global 250, OnDemand Top 100, OnCloud Top 100 and others

Global Partnerships Expand Reach

As global enterprises seek to extract value from their existing ERP implementations, including Oracle, SAP and Netsuite, or innovate from existing Spend Management processes, Coupa’s partnerships with global systems integrators and consultancies add volume and strength to Coupa’s go-to-market initiatives.

• Expanded industry and solution practices at KPMG, Deloitte Consulting, Accenture and others, gaining significant traction and signing new customers with each
• Announced with NetSuite (NYSE: N) a strategic partnership to jointly market the Coupa Cloud Procurement and Expense Management SuiteApp with ‘Built for NetSuite’ verification
• Partnered with Box and DocuSign to provide new suite functionality
• Partnered with Alibaba.com, giving Coupa customers access to millions of additional suppliers directly from within the Coupa platform
• Partnered with TrustWeaver to give customers global e-Invoicing compliance capabilities.
• Partnered with Keboola to help customers aggregate their spend data from multiple systems into the Coupa Analytics intelligent reporting platform

“As we head into an even more exciting 2015, we’re deeply proud of our position as the industry’s leader in cloud-based spend management and optimization, and extremely thankful to our growing worldwide customer base,” said Bernshteyn.

For more information about Coupa, please visit www.coupa.com.

About Coupa Software

Coupa Software enables businesses everywhere to recognize bottom-line financial success via Savings-as-a-Service. More than 500 customers headquartered in over 40 countries use Coupa to support business agility and reduce costs. Only Coupa provides an organic suite of true cloud applications including accounts payable, procurement, expense management, sourcing and inventory, allowing customers to realize a return on investment that starts within a few months and grows continually. Learn more at www.coupa.com. Read more at our company blog, Making Cents or follow @Coupa on Twitter.

#

Voce for Coupa Software
Katie Page, 206-770-7027
katie.page@porternovelli.com