Coupa buys travel technology startup TripScanner
Cloud startup Coupa has acquired the New York-based travel technology company TripScanner.
TripScanner's technology is essentially an open booking system, giving corporate employees the ability to book travel on any website while still adhering to internal travel policies.
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As its name suggests, TripScanner's software scans a completed travel itinerary for compliance and sends businesses real-time reports, analytics and forecasting on enterprise-wide travel.
Coupa says it plans to "organically" integrate TripScanner's technology into its expense management system. The company expects to have the revamped travel product ready by the end of this year.
Coupa bills itself as a savings-as-a-service provider, which basically means it helps customers spend less money over the long tail. The company uses collective bargaining to score prime contract terms on a range of enterprise services for its customers, which include Salesforce, the Container Store, Pandora, and pharmaceutical firm Sanofi.
The San Mateo, Calif.-based company has been around since 2006, but recently has started showing signs that it's planning for a possible IPO. In early June Coupa announced the close of $80 million investment round, its seventh round to date, which bumped its valuation over the $1 billion mark.