Coupa Raises $7.5 Million, Helps Companies Spend Smarter
Summary
With the new capital injection, the total amount raised by the San Mateo, CA startup gets doubled to a healthy $15 million. Coupa markets a Ruby on Rails-driven software suite that allows companies of any size to maintain better control over costs by keeping tabs on purchases, suppliers, existing contracts etc. Ultimately, the software is designed to help companies spend smarter and improve their bottom lines without too much hassle. Coupa even offers an iPhone app dubbed Mobile Approver that can be used to access the purchasing system at no extra cost for existing subscribers. They’re also great at marketing, having recently invited any federal, state and local government agency to use Coupa e-Procurement free of charge for six months in order to help them establish control over inefficient procurement practices.
