Coupa has acquired AI-powered provider discovery platform Scoutbee to boost transparency and effectivity in provider sourcing, onboarding, and transactions.
The transfer expands Coupa’s procurement ecosystem, including Scoutbee’s collaborative instruments and AI-driven provider intelligence to Coupa’s $8 trillion spend administration platform.
As competitors in AI-enabled procurement heats up, Coupa’s acquisition positions it to raised compete with SAP’s Ariba and JAGGAER in constructing a dynamic, resilient world provide chain community.
Spend administration platform Coupa revealed as we speak that it has acquired provider discovery platform Scoutbee for an undisclosed quantity.
Coupa anticipates that integrating Scoutbee’s instruments into its platform will supply enterprise purchasers better transparency and effectivity in provider discovery, onboarding, and transactions.
Scoutbee was based in 2015 to attach consumers and suppliers by its AI-powered procurement platform, which features a sturdy provider database and collaboration instruments. The California-based firm has raised $76 million in funding to assist organizations uncover new, related suppliers and unlock new alternatives.
“We based Scoutbee with the premise that AI can rework real-time sourcing and procurement by enabling consumers and suppliers to seamlessly join, collaborate, and transact,” stated Scoutbee co-founder and CEO Gregor Stühler. “Becoming a member of Coupa permits us to carry our mission to a worldwide stage, and supply an exceptionally data-rich and complete buyer-supplier community and B2B market at scale.”
Coupa launched its AI platform for whole spend administration in 2006. The corporate’s platform comprises a community-generated, $8 trillion dataset and brings autonomous AI brokers, 10 million consumers and suppliers, and apps to automate the shopping for course of. In 2022, Coupa was acquired by Thoma Bravo for $8 billion in money.
“Coupa and Scoutbee share a elementary perception that higher knowledge results in higher AI, higher choices, and in the end, a greater world by extra resilient provide chains,” stated Coupa Chief Product and Expertise Officer Salvatore Lombardo. “Collectively, we’re creating the world’s most complete, dynamic, and data-rich community. This acquisition permits us to ship a very easy buyer-supplier matching expertise and additional enhances our community that can energy the way forward for world commerce.”
Bringing Coupa and Scoutbee collectively underneath a united entrance will assist fortify Coupa’s place within the race to dominate the AI-powered procurement and provider intelligence house. With rivals like SAP’s Ariba Community doubling down on AI-enabled sourcing and JAGGAER investing closely in autonomous commerce, Coupa’s transfer will deepen its provider intelligence capabilities, reinforcing its place as a data-rich, network-first procurement ecosystem.
Photograph by Tiger Lily
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