Coupa, the leading AI platform for total spend management, announced that it has signed a definitive agreement to acquire Scoutbee, a prominent AI-powered supplier discovery platform and network. The integration of Scoutbee’s advanced AI search, extensive supplier network, and collaboration tools with Coupa’s platform and its network of over 10 million buyers and suppliers is expected to significantly enhance transparency, efficiency, and speed in supplier discovery, onboarding, and business transactions worldwide.
In today’s dynamic global trade environment, CEOs, CFOs, and CPOs face increasing pressure to establish new sourcing locations and supplier relationships swiftly and securely. Scoutbee’s platform empowers businesses to gain deeper insights into potential suppliers, identify those that meet specific criteria instantly, and make smarter, more profitable sourcing decisions. The solution also enables suppliers to expand their reach, streamline verification processes, and accelerate contract finalization, ultimately fostering growth and efficiency across the supply chain.
Also Read: GuidePoint & CSA Launch SaaS Security Capability Framework
“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.”