Coupa Software, a San Mateo, CA-based developer of cloud spend management (CSM) solutions, has closed a $12m Series D round of funding.
The round was led by Mohr Davidow Ventures, with participation from previous investors El Dorado Ventures, Battery Ventures, and BlueRun Ventures.
The company intends to use the funds to accelerate the adoption of its solutions.
In conjunction with the round, Bryan Stolle, General Partner at Mohr Davidow Ventures, will join Coupa’s Board of Directors.
Led by CEO Rob Bernshteyn, Coupa Software is an on-demand provider of solutions that control and streamline purchasing and expense management for large and small organizations. Coupa Cloud Spend Management platform is designed to monitor requisitions, expense reporting, approval management, purchase orders, RFQs, inventory and invoicing.