Coupa Software Inc. just announced they're acquiring Llamasoft Inc., an Ann Arbor supply-chain tech company, for $1.5 billion.
Llamasoft has been a top Ann Arbor startup for many years, and their platform is used by hundreds of enterprise customers, including Boeing, Danone S.A., Home Depot and more. Their innovative, AI supply chain solutions haven't gone unnoticed—especially during the pandemic.
As COVID-19 made supply chains a nightmare (remember the beef shortage?) many are investing in the technology that helps businesses smoothly go from sourcing, manufacturing to distribution—and everything in between. Whether it's a pandemic, or unstable political of economic conditions, companies need supply chain technology that is agile and can help assess alternatives and trade-offs. That's what Llamasoft does.
And Coupa recognizes the value in that.
“We are witnessing an unprecedented shift in what businesses are demanding to effectively manage their supply chains. They need instant visibility, agile planning capabilities, and timely risk mitigation support,” Rob Bernshteyn, chairman and CEO at Coupa, said in a press release.
“LLamasoft’s deep supply chain expertise and sophisticated data science and modeling capabilities, combined with the roughly $2 trillion of cumulative transactional spend data we have in Coupa, will empower businesses with the intelligence needed to pivot on a dime. Together, we will deliver a more powerful Business Spend Management platform to help organizations everywhere maximize the value of every dollar they spend in a smarter, simpler, and safer way," Bernshteyn said.
Based in San Mateo, Calif., Coupa is a leader in Business Spend Management (BSM). By providing visibility and control, Coupa's BSM platform empowers some of the world's most successful organizations to make smarter decisions when it comes to spending. And now, by joining forces with Llamasoft, the company can offer their customers the ability to redesign their supply chains through Llamasoft's software.
The acquisition is a strategic move for Llamasoft and its customers, too. By being a part of Coupa's platform, Llamasoft's clients will be able to execute supply-chain decisions and manage supplier relationships all within in a network of more than 5 million suppliers.
“We are very excited about joining forces with Coupa,” Razat Gaurav, CEO at LLamasoft, said in a press release. “Combining Coupa’s market leading spend management execution core and broad market reach with LLamasoft’s AI-powered supply chain analytics provides a unique opportunity to bring together digital transformation solutions that drive decision making and operational efficiency across the enterprise. I am equally excited for employees of both organizations who share a culture that prioritizes delivering innovation and exceptional customer value."
Llamasoft has been named an Inc. 5000 List of Fastest Growing Private Companies for the fifth consecutive year, the 2020 Detroit Free Press Top Workplace, and Supply & Demand Chain Executive Green Supply Chain Award 2019. Their global impact team also plays a role in the World Economic Forum’s Center for the Fourth Industrial Revolution. They take their technology and use it for good in the world, like designing supply chains and delivering medical supplies and vaccines via drone to people in underdeveloped countries.
