No terms were disclosed for the acquisition unveiled this week by the Silicon Valley-based Coupa.
TripScanner was born in September 2013 in Brooklyn, with a focus on providing SaaS-based systems for small to mid-sized business manage their travel expenses.
The idea was to create a system which allowed companies to cater for their own employees’ booking habits (increasingly open and flexible) with existing corporate travel policies.
Co-founders Ethan Laub and Steve Gravitz are coming Coupa’s way as part of the deal and will lead the company’s new travel vertical.
TripScanner’s tools will be integrated into the Coupa platform and made available to customers by the end of 2015.
The deal says a lot about the ambitions of the nine-year-old Coupa, as well as TripScanner’s ability to secure an exit to a growing company after just two years in business.
Coupa has made in-roads into the expenses world with customers ranging from Salesforce, BNP and Swiss Re, taking on the likes of Ariba in the business IT marketplace.
CEO Rob Bernshteyn says:
“Travel preferences and booking options are a personal experience for most people. Many employees travelling on business today want to maintain the same autonomy they have when booking personal travel.
“Our goal with this acquisition is to drive greater compliance and deliver on our mission of savings-as-a-service for our customers, all while delighting their employees. This acquisition is another step towards that goal.”
TripScanner (TLabs here) enlisted the expertise of Scott Hintz to its board of directors in March this year.
Gravitz was given co-founder status when he joined in January 2015 as vice president of technology, having held a similar role at Pegasus Systems offshoot, Open Hospitality.
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