Deals

Coupa lands $22M to keep your crazy expense reports in check

Image Credit: via http://www.flickr.com/photos/68751915@N05/

Coupa helps manage the entire spending process for businesses, from purchasing supplies to reimbursing employees for expense reports.

Mere months after closing a $12 million investment, Coupa has closed its fifth round of funding for $22 million. The company did not disclosed its valuation.

The company’s software can track any payroll-related spending and procurement. It handles invoicing, inventory, budgets, and expense reporting. Its services also include analytics and reporting to show if companies are wasting money by ordering too many supplies or sending people on too many wild business trips. If an employee submits an exorbitant expense report from a Vegas trip, the software will warn them that their spending got out of control.

New investor Crosslink Capital led the round. Existing investors Battery Ventures, BlueRun Ventures, El Dorado Ventures, and Mohr Davidow Ventures participated.

Competitors in this space include Hubwoo and Spendmap, which all offer procurement and expense management software.

Coupa’s customers include Subway, Toyota, SalesForce, and Nvidia. Founded in 2006, the company has raised a total of $49 million including this recent round. Coupa is based in San Mateo, Calif.

Young woman shopping image via Shutterstock 

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