Coupa, the leading AI platform for total spend management, announced that it has signed a definitive agreement to acquire Scoutbee, a leading AI-powered supplier discovery platform and network. By integrating Scoutbee’s AI-powered search, rich supplier network and dataset, and collaboration tools with the Coupa platform and network of 10M+ buyers and suppliers; businesses worldwide will benefit from greater transparency and efficiency in supplier discovery, onboarding, and transactions.
CEOs, CFOs, and CPOs are navigating a constantly shifting global trade environment. They are looking to quickly and safely establish new sourcing locations and supplier relationships, increasing optionality for more efficient and profitable business outcomes. Scoutbee’s platform helps businesses better understand their suppliers, instantly identify new suppliers that meet their criteria, and make more intelligent, profitable decisions – simplifying and accelerating the process of working with new suppliers. It also helps suppliers grow their revenue by reaching new business partners, simplifying the verification process, and accelerating contract closures.
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“Coupa and Scoutbee share a fundamental belief that better data leads to better AI, better decisions, and ultimately, a better world through more resilient supply chains,” said Coupa Chief Product and Technology Officer Salvatore Lombardo. “Together, we are creating the world’s most comprehensive, dynamic and data-rich network. This acquisition enables us to deliver a truly effortless buyer-supplier matching experience and further enhances our network that will power the future of global trade.”
“We founded Scoutbee with the premise that AI can transform real-time sourcing and procurement by enabling buyers and suppliers to seamlessly connect, collaborate, and transact,” said Scoutbee co-founder and CEO Gregor Stühler. “Joining Coupa allows us to bring our mission to a global stage, and provide an exceptionally data-rich and comprehensive buyer-supplier network and B2B marketplace at scale.”
Source: PRNewswire