Coupa Software Acquires Xpenser
Leader in Spend Optimization Invests in Expense Management Expertise for Its Cloud Application Suite
SAN FRANCISCO – Coupa INSPIRE Conference – April 10, 2013 – Coupa Software, the leading provider of cloud-based spend optimization solutions for finance, today announced that it has acquired Xpenser, a company that enables users to record and track expenses more efficiently in the cloud. The acquisition will expand Coupa’s domain expertise and leadership in the area of expense management. The announcement was made at the Coupa INSPIRE Conference in San Francisco this week.
“We’re serious about helping customers control all three critical areas of spend across their finance organization – procurement, invoicing and expense management,” said Rob Bernshteyn, CEO of Coupa. “Xpenser’s roadmap is very well-aligned with our vision for smarter expense management, and by leveraging Xpenser’s expertise, we’ll accelerate that vision much quicker, as part of our fast-developing, organically built suite of capabilities.”
Based in San Diego, Calif., Xpenser was founded in 2008 by experienced entrepreneurs who had the goal of saving people time on preparing and submitting expense reports. Xpenser has users in just about every corner of the world.
Henry Ijams, managing director at industry analyst firm, PayStream Advisors, Inc., said, “Coupa clearly demonstrates a completeness of vision, and customers around the world will reap the benefits. The company’s acquisition of Xpenser is a strategic move that will enable Coupa to even further develop its popular expense management application that is part of its unified suite with procurement and invoicing applications.”
“The acquisition brings two companies together that are focused on innovation and customer success,” said Tony Darugar, CEO of Xpenser. “The Xpenser team is looking forward to joining Coupa and working together to innovate faster and further on the most complete expense management solution on the market.”
About Coupa Software
Founded in 2006, Coupa Software is the leading provider of cloud-based spend optimization software. More than 300 customers in 40 countries use the Coupa suite of cloud applications to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true suite of cloud applications for finance, including procurement, expense management and accounts payable that enables customers to launch the solution immediately and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.