Coupa, a cloud-based spend management platform, recently announced a deal to acquire San Francisco-based automation and orchestration technology provider Tonkean.
Founded specifically to enable “human-in-the-loop” process automation, Tonkean develops no-code tools that help organizations automate request intake and orchestrate business processes across systems. Coupa said the acquisition builds on its recent purchases of Cirtuo, Scoutbee and Rossum and is intended to strengthen workflow automation for procurement and supplier operations.
“The acquisition of Tonkean is game-changing for Coupa and the market,” said Leagh Turner, Coupa’s CEO. “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.”
Tonkean, founded in 2015, provides workflow automation software used by enterprise teams including procurement and legal. Coupa, also based in the Bay Area, said the acquisition will combine Tonkean’s orchestration technology with its spend management platform to support more automated procurement and supplier workflows. Financial terms of the transaction were not disclosed.
To read our multi-year coverage of Tonkean, click on the articles below:
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C-Suite Spotlight: Tonkean’s Sagi Eliyahu
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Tonkean Raises $50 Million Series B for No-Code ‘Human-in-the-Loop’ Automation