Despite a few hiccups along the way, Coupa’s exceptionally strong revenue and customer growth in 2013 continues to serve as a proxy for broader interest and adoption in the purchase-to-pay area. Earlier today, we published a Spend Matters Plus series (see below) highlighting a range of trends, facts, and observations beyond the above-linked press release facts and figures. Our analysis includes a close look at Coupa’s modular (product) growth and trends in recent quarters, partnership/systems integration ecosystem, global expansion, public vs. private sector focus, and a general outlook and predictions for the vendor in 2014. See:
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If you’d rather get the distilled version of the story straight from the Coupa marketing department, here are some facts and figures from the press release:
- Coupa grew 100% year over year (bringing, by our count, revenue to materially over the $20 million mark).
- The vendor realized a 95% renewal rate (not perfect, but not bad).
- Significant partnership expansion with large consultants (e.g., Deloitte, KPMG, Accenture) and systems integrators as well as boutique service firms. In all, “the number of Coupa partners grew by 30% in 2013 with over 140 companies now providing additional value to the Coupa ecosystem.”
- The release of new modular solutions and releases (including Coupa Sourcing) as well as industry-specific solutions aimed at the financial services, food and beverage, healthcare, high technology, and retail markets.
- Global expansions (Europe and Latin America are the fastest growing regions)
- New customer wins including “the Colombian Government, General Mills, Associated Banc-Corp, Concentrix, Exeter Finance, ARC Document Solutions, DrillSearch Energy Limited, D-Wave Systems, Kateeva, Marketo, Qualys, Barney & Barney, and Econet Telecom Lesotho.”
- Customer expansions including “Adidas Group Latin America, Al-Elm Information Security, Grand Canyon University, Pandora Media, QVC, Square, Vistaprint, and the San Diego Zoo.”