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E-Procurement Innovator Coupa Secures Series A Funding
March 15th, 2007 1 comment
Coupa Software, founded to simplify corporate purchasing, announced recently that it has secured A round funding from the leading early-stage venture capital fund BlueRun Ventures, as well as several private investors. Coupa will use this investment to accelerate market and product development plans. The company also announced that Jonathan Ebinger, managing partner at BlueRun, and Vineet Buch, a BlueRun principal, joined the Coupa board of directors.
Coupa was founded in 2006 by Oracle veterans Dave Stephens and Noah Eisner to tackle the problem at the root of most e-procurement failures: employee noncompliance. Coupa combines best-in-class functionality for controlling departmental and employee purchasing with simplicity – providing a solution so easy to use that employees actually prefer using Coupa for their business purchasing needs.
“E-procurement has hit the wall, and traditional solutions cannot be improved to re-energize it. Coupa’s mission is to radically simplify e-procurement, make it affordable, and bring its unfulfilled promise of increased savings and efficiency to companies of all sizes.” said Dave Stephens, CEO and co-founder. “Now, with Jonathan and Vineet on our team, we have additional operational expertise to build a strong and growing company.”
“Unlike others in the industry, Dave and Noah clearly understand that the real innovation in e-procurement will happen in two areas. First, you must ensure that the average employee actually buys into e-procurement and, second, you must make the solution cost-effective enough to be accessible to companies across a broad spectrum of industries,” said Jonathan Ebinger. “I believe that the convergence of significant market opportunity and the founders’ expertise make Coupa a marketplace winner.”
Coupa was founded in 2006 to fulfill the promise of effective procurement for companies of all sizes. Coupa simplifies purchasing for employees while providing much-needed control for the purchasing department.
For more information, please visit www.coupa.com
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Hi
just hoping someone could give me an answer on the size of company (employee wise) that coupa targets to make it a marketplace winner?
Regards,
Phil