Acquisition of AI-native intake and orchestration leader accelerates Coupa’s ambition to power proprietary, two-sided, autonomous workflow automation for global buyers and suppliers
Coupa, the leading cloud-native, agentic trade network for autonomous spend management, announced its acquisition of Tonkean, an industry-leading agentic intake and orchestration platform. With this acquisition, Coupa now stands alone in the ability to offer fully integrated Agentic-as-a-Service capabilities powering agentic workflow automation and execution to its global network of more than 3,500 buyers and 10M suppliers. Fully orchestrating network commerce and trade from the initial request to the final order and payment.
“The acquisition of Tonkean is game-changing for Coupa and the market. For twenty years, we’ve built a global trade network that brings together buyers and sellers for the purpose of optimizing trade and spend. To date, we’ve delivered more than $300 billion of value to that network and amassed a dataset of $10 trillion. To deliver the promise of increasingly autonomous execution of transactions between buyers and suppliers, you need three main things, industrial-grade and unified orchestration, best-in-class buyer and supplier workflows, and clean, trusted data. With the acquisitions of Rossum and Tonkean, in short order, we have now amassed all the assets to make this promise possible for both buyers and suppliers at a time when buying and selling is getting more complex and costly. We couldn’t be more excited to welcome Sagi and the Tonkean team to Coupa,” said Leagh Turner, Coupa CEO.
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Tonkean is the fourth strategic acquisition in Coupa’s vision to build the world’s foremost agentic trade network, following Cirtuo, Scoutbee, and Rossum. Together with Coupa’s leading platform capabilities, they create a unified capability to deliver agentic trade and autonomous spend management that Coupa is uniquely positioned in the market to deliver.
“This is a deliberate, strategic step toward building the #1 agentic trade network and delivering autonomous spend management at speed and scale like no one else in the market,” said Salvatore Lombardo, Chief Product and Technology Officer of Coupa. “We’ve assembled the ultimate procurement toolkit: a $10 trillion data foundation, eyes to read any document, intelligence to source smarter, and now the ultimate engine to orchestrate modern, agentic work. Tonkean brings a 100% no-code process builder and 250+ native connectors that wrap seamlessly around customers’ existing architecture. This delivers advanced orchestration and unified integrations on day one with zero rip-and-replace. With Tonkean natively embedded in Coupa, customers get best-in-class orchestration and the best spend platform they already trust, in a single, unified agentic architecture.”
Delivering AI-driven Workflow Automation and Execution with an Advanced Framework for Multi-Agent Orchestration
Tonkean brings a natural language interface that allows users to submit and track requests for an increase of 2.2x in user adoption and an advanced framework for multi-agent orchestration and Agent-to-Agent (A2A) coordination. Together they execute complex workflows and replace manual handoffs, reducing cycle times by 50% and saving operations teams over 30 hours per week. Additionally, suppliers benefit from the unified integration with APIs that facilitate one-to-many connections for suppliers to grow their businesses faster.
“We couldn’t have created a more powerful combination in the market than joining forces with Coupa, unlocking tremendous value to customers far and wide,” said Sagi Eliyahu, Tonkean Co-Founder and CEO. “With our industrial-grade intake and orchestration now serving as the backbone and foundation for their industry-leading agentic trade network and data, we will seamlessly connect buyers, sellers, and agents in a unified way to deliver autonomous trade in a way that no other company can match, and in turn drive exponential business value for customers. This massive opportunity greatly excites my team and me, and we are thrilled to join Coupa.”
Source: PRNewswire