The US spend-management platform Coupa announced on October 7 that it had signed a definitive agreement to acquire the Würzburg-based startup Scoutbee. Scoutbee, founded in 2015, is best known for its AI-powered platform for supplier discovery, and reportedly last served 140 international major customers such as Audi, Siemens, Airbus, Unilever and Bosch Rexroth according to its own statements. With the acquisition, Coupa now intends to integrate Scoutbee's AI technology for supplier discovery and supplier management directly into its platform.
Accelerating automation in procurement
From integrating Scoutbee's AI-powered search, the extensive supplier network and data set, as well as collaboration tools into the Coupa platform, the US company expects greater transparency and efficiency in supplier discovery, onboarding and transactions, according to a press release. With the acquisition, it aims not only to expand its presence in Europe but also to further accelerate AI-driven automation in procurement, it says. In May, Coupa had already acquired the Croatian startup Cirtuo, which
specializes in category management.
“Coupa and Scoutbee share the fundamental belief that better data lead to better AI, better decisions, and ultimately to a better world through more resilient supply chains,” said Salvatore Lombardo, Chief Product and Technology Officer of Coupa. “Together we will create the most comprehensive, dynamic and data-rich network in the world. This acquisition enables us to realize truly effortless buyer-supplier matching and to strengthen our network further, which will drive the commerce of the future.”
“We founded Scoutbee with the conviction that AI can transform real-time procurement by enabling buyers and suppliers to connect, collaborate and transact seamlessly,” said Gregor Stühler, co-founder and CEO of Scoutbee. “The merger with Coupa allows us to bring our mission to the global stage and offer an exceptionally data-rich and comprehensive buyer-supplier network as well as a B2B marketplace at scale.”
The closing of the transaction is expected within Coupa's current fiscal quarter, after which integration efforts will
