How Much Did Coupa Raise? Funding & Key Investors

Date
March 31, 2025
Coupa

Total amount raised

$219 Millions

Latest funding date

Coupa

Location

Title

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Coupa has successfully raised significant capital through multiple funding rounds, culminating in its acquisition by Thoma Bravo for $8 billion. The company specializes in AI-native total spend management solutions, transforming how businesses manage their financial operations.

Keep reading to explore the intricacies of Coupa's fundraising journey and the investors backing this innovative platform.

What Is Coupa?

Founded in 2006 by Dave Stephens and Noah Eisner, Coupa is headquartered in Foster City, California. The company specializes in cloud-based financial applications for business spend management, offering a unified suite of solutions to help companies control and gain visibility into their spending. With a workforce of 1001-5000 employees, Coupa continues to innovate in the field of AI-native total spend management.

How Much Funding Has Coupa Raised?

  1. Series A
    • Amount Raised: $1.5M
    • Date: March 2007
    • Lead Investors: BlueRun Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To develop the initial product and establish market presence.
  2. Series B
    • Amount Raised: $6M
    • Date: April 2008
    • Lead Investors: Battery Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand product features and scale operations.
  3. Series C
    • Amount Raised: $7.5M
    • Date: September 2009
    • Lead Investors: El Dorado Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To accelerate customer acquisition and market penetration.
  4. Series D
    • Amount Raised: $12M
    • Date: February 2011
    • Lead Investors: Mohr Davidow Ventures
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To enhance product development and support international expansion.
  5. Series E
    • Amount Raised: $22M
    • Date: May 2012
    • Lead Investors: Crosslink Capital
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To further expand global reach and improve product offerings.
  6. Series F
    • Amount Raised: $40M
    • Date: March 2014
    • Lead Investors: Meritech Capital Partners
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To scale operations and enhance market leadership.
  7. Series G
    • Amount Raised: $80M
    • Date: June 2015
    • Lead Investors: T. Rowe Price
    • Valuation at Round: $1B+
    • Motivation Behind the Round: To fuel global expansion and increase product development.
  8. Post-IPO Equity
    • Amount Raised: $50M
    • Date: June 2021
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support ongoing growth and strategic initiatives.

Total amount raised: $219M. Current valuation: $8B.

Key Investors

  • T. Rowe Price
    • Details: T. Rowe Price is a global investment management firm that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
    • Investment Focus Areas: Mutual funds, subadvisory services, separate account management.
    • Notable Investments: Amazon, Google, Facebook.
  • Iconiq Capital
    • Details: Iconiq Capital is a privately-held investment firm that serves influential families and organizations, managing the personal fortunes of tech entrepreneurs like Mark Zuckerberg and Jack Dorsey.
    • Investment Focus Areas: Technology, innovation, influential families.
    • Notable Investments: Uber, Airbnb, Coupa Software.
  • Premji Invest
    • Details: Premji Invest is the private investment arm of Azim Premji, focusing on private equity investments across various sectors.
    • Investment Focus Areas: Technology, healthcare, consumer.
    • Notable Investments: Snapdeal, Myntra, Coupa Software.
  • Battery Ventures
    • Details: Battery Ventures is a global, technology-focused investment firm that invests in companies at all stages of growth, from seed to buyout.
    • Investment Focus Areas: Technology, software, industrial technology.
    • Notable Investments: Nutanix, Glassdoor, Coupa Software.
  • Crosslink Capital
    • Details: Crosslink Capital is a venture capital and growth equity firm that invests in early-stage and growth-stage companies across various sectors.
    • Investment Focus Areas: Technology, consumer, financial services.
    • Notable Investments: Pandora, Ancestry.com, Coupa Software.

What's Next for Coupa?

Coupa's future is brimming with opportunities, particularly in expanding its global operations and enhancing its product offerings. The increasing demand for cloud-based financial applications and spend management solutions positions Coupa to capture a significant market share. With a robust customer base and a proven track record, the company is well-placed to leverage its "savings-as-a-service" model to attract more clients and deepen existing relationships.

As Coupa continues to grow, future fundraising opportunities are likely to arise. The company may seek additional capital to fuel its expansion and innovation efforts. However, challenges such as intense competition and the need to continuously innovate could pose hurdles. Navigating these challenges will be crucial for Coupa to maintain its market leadership and achieve sustained growth.

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