Coupa
Spend management platform for procurement, accounts payable, expenses, payments and supply chain, with more than 3,000 customers; owned by Thoma Bravo.
| Founded | 2006, incorporated in Delaware; headquartered in Foster City, California |
|---|---|
| Ownership | Private; taken private by Thoma Bravo in an all-cash deal at an enterprise value of US$8.0bn, completed in February 2023, with a significant minority investment from the Abu Dhabi Investment Authority; interim CEO Mike Lipps, a Thoma Bravo operating partner, since August 2026 |
| Customers | More than 3,000 customers, including American Airlines, UPS, Hilton and Schneider Electric; 55% of the Fortune 500 work with Coupa; 11.5 million buyers and suppliers on its network |
| What it does | Sourcing, contract management and supplier risk; intake and procurement; invoice-to-pay with AP automation, expense management, payments, treasury management and fraud detection; direct spend and supply chain optimisation; Navi AI agents built on more than US$10.5tn of spend data |
| Recent moves | Acquired Cirtuo (category management, May 2025), Scoutbee (supplier discovery, announced October 2025), Rossum (document processing, May 2026) and Tonkean (intake and orchestration, May 2026); launched Coupa Compose for building and running AI agents, with outcome-based pricing, in May 2026; CEO Leagh Turner stepped down in August 2026 |
| Pricing | Not published; demos and sales contact on request |
| Markets | Offices in North America, Latin America, Europe, Asia Pacific and the Middle East; site in English, German, Spanish, French, Italian, Portuguese and Japanese |
| Peers | Zip, SAP Ariba, Tipalti, Bill, Ramp, Emburse |
Why it matters
Coupa runs procurement, invoice processing and payments for 55% of the Fortune 500, which makes it the incumbent that Zip and the AI-native procurement and AP startups are selling against. Its 2026 purchases of Rossum and Tonkean, the move to outcome-based pricing for AI agents and an interim CEO since August 2026 all bear on renewal and roadmap decisions for finance teams on the platform.
Updated October 2026.
Part of Accountio’s accounting technology coverage.
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