SAN MATEO, Calif., Jan. 7, 2020 /PRNewswire/ -- Coupa Software
(NASDAQ: COUP), a leader in Business Spend Management (BSM),
announced today that it has acquired travel price optimization
leader Yapta. The acquisition enables Coupa to deliver more value
across BSM by empowering companies to achieve greater savings in a
significant spend category, Travel & Expense (T&E).
Based in Seattle and led by
travel industry veterans, Yapta monitors airfare and hotel prices
in real time and sends instant savings alerts when prices drop.
Working with thousands of customers, including more than 100 of the
Fortune 500, Yapta has helped companies save an average of 2-4% of
their corporate travel budgets, resulting in more than $350 million of savings to date.
As an integral part of the Travel and Expense offering within
the Coupa BSM Platform, Yapta offers price assurance capabilities
that dynamically track prices on airline and hotel reservations and
instantly rebooks them at the lowest available price, without
impacting the traveler experience.
"Business travel, which accounts for more than $1 trillion of spend per year1, is
often one of the spend areas within a business with the least
visibility and control," said Rob
Bernshteyn, chairman and CEO of Coupa. "Yapta offers
greater transparency into travel spend, helping businesses get the
most value from their travel planning. I am excited to welcome the
Yapta team to Coupa and look forward to furthering our joint
mission of empowering businesses with the visibility and control
they need to spend smarter."
In 2019, Yapta was named for the third consecutive time
to Deloitte's List of 500 Fastest Growing Technology Companies
in North America, as well
as Inc Magazine's List of Fastest Growing Private Companies in
the U.S.
"Yapta was founded on the concept of enabling travelers to get
the most value and savings out of their travel plans, and we're
proud to have saved our corporate customers across the globe
hundreds of millions of dollars," said James Filsinger, CEO of Yapta. "Joining the
team at Coupa offered a logical next step for our company given
Coupa's strong focus on delivering value across Business Spend
Management. As an integral part of the Coupa BSM Platform, Yapta
will have greater reach and scale across Coupa's growing customer
base to deliver even greater value to businesses."
To learn more about the Coupa BSM Platform, which empowers the
world's most successful organizations with the visibility and
control they need to manage all their spend in one place,
visit https://www.coupa.com/.
About Coupa
Coupa Software is the leading provider of
BSM solutions. We offer a comprehensive, cloud-based BSM platform
that has connected hundreds of organizations with more than four
million suppliers globally. Our platform provides greater
visibility into and control over how companies spend money. Using
our platform, businesses are able to achieve real, measurable value
and savings that drive their profitability. Learn more at
www.coupa.com. Read more on the Coupa Blog or follow @Coupa on
Twitter.
Forward-Looking Statements
This release includes
forward-looking statements. All statements other than statements of
historical facts, including the proposed benefits of the
acquisition and statements regarding the capabilities of Coupa and
Yapta following the acquisition, are forward-looking statements.
These forward-looking statements are based on Coupa's current
expectations and projections about future events and trends that
Coupa believes may affect its financial condition, results of
operations, strategy, short- and long-term business operations and
objectives, and financial needs.
These forward-looking statements are subject to a number of
risks, uncertainties and assumptions that may cause actual results
to differ materially, including difficulties with the integration
process or the realization of the benefits of the acquisition.
These and other risks and uncertainties that could affect Coupa's
future results are included under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," in Coupa's most recently filed Form 10-K or
10-Q filed with the SEC, which is available
at investors.coupa.com and on the SEC's website at
www.sec.gov. Further information on potential risks that could
affect actual results will be included in other filings Coupa makes
with the SEC from time to time.
The forward-looking statements in this release reflect Coupa's
expectations as of the date hereof. Coupa undertakes no obligation
to update publicly any forward-looking statements for any reason
after the date of this release to conform these statements to
actual results or to changes in our expectations.
1 Global Business Travel Association, GBTA BTI™
Outlook – Annual Global Report & Forecast 2018
https://www.gbta.org/blog/gbta-forecasts-seven-percent-growth-in-global-business-travel-spend-potentially-signifying-end-to-era-of-uncertainty/
View original content to download
multimedia:http://www.prnewswire.com/news-releases/coupa-acquires-travel-price-optimization-leader-yapta-300982222.html
SOURCE Coupa Software