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Cloud spend management provider Coupa raises $40m

Coupa, which competes with incumbents like SAP and Oracle, raised $40m in its latest round of funding

Coupa, a provider of cloud-based spend management software announced this week that the company has secured $40m in a round of funding led by Meritech Capital, bringing its total take since its founding in 2006 to $87.5m. The company said the latest round of funding will help the company grow its cloud-based financial management software and eclipse other providers.