Helps Company Deliver Vision of Community Intelligence
Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, today announced that it has acquired substantially all of the assets of Riskopy, Inc. The acquisition helps Coupa aggregate Coupa platform and 3rd party supplier risk data into a profile score. This profile score, Coupa transactional data, and other Coupa network data is then incorporated in Coupa's community intelligence innovation.
Based in the San Francisco Bay area, Riskopy's analytics engine combines conventional and alternative data sources in a proprietary algorithm.
"When we created Riskopy, we set out to collect near real-time supplier data to identify risk and uncover new opportunities in the world of business finance," said Ahmad Sadeddin, founder of Riskopy. "We're thrilled to be a part of the team creating next generation supplier risk solutions."
Riskopy uses a combination of financial data and event data to create a view into supplier risk. Financial data includes a company's fiscal health, such as growth rate, size, sector, and country standing within global economy. Event data includes items such as court filings, corporate filings, currency, and news sentiment.
"Riskopy's aggregation engine helps us accelerate our vision of Coupa community intelligence." said Raja Hammoud, vice president of product marketing and management at Coupa. "Riskopy brings both 3rd party supplier data knowledge and advanced technology to our team and it has been a pleasure working with them."
Born in the cloud, Coupa delivers a modern spend-management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the CoupaOpen Business Network, the platform has connected more than 3 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.
Financial terms of the acquisition were not disclosed. Coupa is not updating its guidance for its fiscal year ending January 31, 2018, which it provided on March 13, 2017. The acquisition is not expected to have a material impact on Coupa's results of operations or financial condition for its fiscal year ending January 31, 2018.