With an $8 billion plus market cap, Coupa Software has long been a leading player in the business management software space. The company was founded in 2006 and is based out of San Mateo, CA. It is led by a talented executive, Rob Bernshteyn, who joined the company in 2009; he got his start in software early in his career as a project manager for Accenture in the mid to late 1990s. For the past 10 years he has grown the company from modest beginnings to over $260 million in revenues and today has an organization powered by over 1,200 employees. Coupa is set up beautifully to continue growing at an accelerated clip.
Coupa Software’s solution set has expanded over time and today it offers a wide array of tools to fully address spend management for businesses. It starts with procurement and extends to invoicing, expense management and payment. From there, additional functionality is provided in spend analysis, strategic sourcing, contract management, contingent workforce and last but not least supplier management.
Customers are comprised of just about any company that wishes more visibility, clarity and control over the way its organization as a whole spends money. After implementing Coupa solutions, many customers claim immediate return on investment. Companies range from Pearson, MGM Resorts, Salesforce, Groupon, Office Depot, to H&R Block among many other recognizable names.
Meanwhile, management has proven effective in growing topline year over year. In its most recent fiscal year ended January 2019, the company generated approximately $260 million in revenue, that’s up from $186 million in 2018 and $133 million in 2017. In 2016, revenue was a meager $83 million, about one-fourth what it is today. This phenomenal growth has all come while keeping operating costs in check. The company has remained steady at a loss rate of around $40 to $45 million each year.
The public market has rewarded the company for its performance; since its 2016 IPO, Coupa’s stock price has risen from $30 to over $134 per share.
The product set, the customer love, and the financial results, simply could not be possible without solid leadership.
CEO Rob Bernshteyn has over 20 years of experience in the software industry. The Harvard MBA was previously a Vice President at SuccessFactors and Director at Siebel Systems. He was also a consultant for McKinsey and Accenture.
Also at the helm is Raja Hammoud, the senior vice president of product at Coupa. Her leadership has resulted in the launch of a host of new products fueling the growth of the early startup to a public company. She relies tremendously on her team to drive Coupa’s success in the market. “It always starts with hiring the right people,” she said. “That means luring top talent with the right competencies. I look for professionals who are positive, authentic, energetic, and hungry for learning and growth. I have seen it time and again that when you provide a nurturing and supporting environment for such talented professionals and point them in the right direction, magic happens.”