Near-unicorn Coupa Software files for public offering
September 12, 2016
Coupa Software, a provider of cloud-based applications for finance, covering areas such as procurement, expense management and accounts payable, has filed for an IPO. Founded in 2006, the company plans to list on the NASDAQ under the symbol COUP. Existing investors include Battery Ventures (16.2% pre-IPO stake), El Dorado Ventures (13.9%) and BlueRun Ventures (12.7%).
Although Coupa isn't technically part of the unicorn club—its last financing was an $80 million round last June at a $941 million valuation—the performance of its stock will be another gauge of public market appetite for such companies.