Coupa Software IPO

Davis Polk advised the joint book-running managers and representatives of the several underwriters on the initial public offering by Coupa Software Incorporated. Coupa sold 8,510,000 shares of its common stock, including shares sold pursuant to the full exercise of the underwriters’ over-allotment option, for total gross proceeds of $153 million. The common stock is listed on the NASDAQ Global Select Market under the symbol “COUP.”

Coupa provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. Coupa’s “value as a service” offering includes procurement, invoicing and expense management modules and is designed to provide greater visibility and control over how companies spend money. Coupa is based in San Mateo, California.

The Davis Polk corporate team included partner Sarah K. Solum and associates Marcus K. Hintze, Keerthika Melissa Subramanian and Angela J. Koo. The tax team included partner Rachel D. Kleinberg and associate Lena X. Qiu. The intellectual property and technology team included associates Michelle Ontiveros Gross and Jason J. Bang. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.