Coupa launches USD 50 mln Coupa Ventures Fund

Monday 7 June 2021 13:38 CET | News

Coupa Software has launched Coupa Ventures, a USD 50 million fund to foster innovation in Business Spend Management. 

Coupa Ventures will invest in early- and growth-stage companies breaking down inefficiencies in how businesses manage their spend, aligning processes and decisions across supply chain, procurement, and finance. As part of its debut, Coupa unveiled the fund's first two portfolio companies: Zylo and SourceDay. 

Zylo, a SaaS management platform helping companies manage and optimise cloud-based applications, is one of the first companies to receive funding from Coupa Ventures, along with existing investors, Menlo Ventures and Bessemer Venture Partners. Zylo's platform provides organisations with visibility into what software is being used, how much is spent, and how to optimise their software investments.

Also receiving one of the first investments from Coupa Ventures is SourceDay, a supply chain performance solution that bridges the gap between a company's enterprise resource planning (ERP) and its supply chain network.

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Keywords: spend management, supply chain finance, investment
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech