Coupa Software, a developer of on-demand e-procurement software that supports companies control spending and generate savings, completed a $7.5m Series C financing round led by El Dorado Ventures.
Previous investors Blue Run Ventures and Battery Ventures of Menlo Park also participated in the round.
Commenting on the funding, Rob Bernshteyn, CEO of San Mateo Ca.-based Coupa, was quoted as saying: “The addition of El Dorado Ventures as investors further validates Coupa’s mission of helping companies spend smarter in these tough economic times.
“Today, Coupa delivers the easiest to use, quickest to implement, and most cost-effective spend management solution on the market. With this funding round, we will continue to execute on our business plan here in the U.S. and worldwide”.