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Coupa Software Raises $7.5M in Series C Funding Round
El Dorado Ventures leads investment in on-demand provider of e-procurement
09.01.2009 – Coupa Software Inc., developer of on-demand e-procurement software
that helps companies control spending and generate savings, today announced the
completion of a $7.5 million Series C financing round led by El Dorado Ventures, an
early-stage investor in disruptive technologies and business models in emerging
and high-growth markets. Previous investors Blue Run Ventures and Battery
Ventures, both of Menlo Park, California, also participated in the round.
“Other e-procurement solutions are undifferentiated,” said Charles Beeler, a general
partner at El Dorado. “That’s not the case with Coupa Software. Their approach
provides companies with ‘predictive spend dashboards’, ‘crowd sourcing’, and
‘spend benchmarking’, which should be extremely compelling to any company
interested in finding additional ways to save money.”
Coupa’s cloud-based e-procurement platform proves you do not need a lot of
money, time and IT resources to instill discipline and control into a company’s
purchasing processes. With usability that rivals that of consumer shopping sites,
and affordable subscription-based pricing, Coupa brings spend control, automation,
efficiency, and savings to companies trying to cut costs.
Beeler added, “El Dorado is actively investing in businesses that have an important
role to play in the economic recovery. Coupa is well positioned to help companies
find savings opportunities in the final frontier of spend control – indirect spending.”
Earlier this summer Coupa Software announced several unique innovations as part
of its July release, including:
• Predictive Spend Dashboards - New spending dashboards provide real-time
insight into corporate spending, and forecast spending into the future.
• Coupa iRequest and Coupa iBuy – now the employee permission-based
requisition and ordering process is as easy as shopping on Amazon,