Coupa Software, a US-based developer expenses management software, has raised $12m for its series D round.
Venture capital firm Mohr Davidow Ventures led the round alongside peers El Dorado Ventures, Battery Ventures and BlueRun Ventures, which span off from phone maker Nokia in 2005 but retains the Finland-based former parent as an investor.
Jonathan Ebinger, Partner at BlueRun Ventures and Coupa’s initial backer, said "Coupa has emerged as a significant player in not only the e-procurement and expense management space but as a disruptive innovator in the cloud ecosystem in general.
"By empowering organizations to spend less, reduce operating costs and improve visibility and spend predictability, they are truly shifting the paradigm in terms of how companies buy, spend and manage these expenditures from an overall corporate finance perspective."
Coupa’s customers include Rent-A-Center, Michaels Stores, Pandora, Berkshire Bank, Diagnostic Health, Williams Sonoma and Wal-Mart.
Coupa’s C round raised $7.5m in September 2009, $6m for its series B the year before and $1.5m in its series A round in 2007.