ANN ARBOR – California-based Coupa Software announced Monday that it has acquired AI supply chain company Llamasoft for approximately $1.5 billion.
Based in Ann Arbor, Llamasoft’s technology is used by hundreds of major companies, including AstraZeneca, Boeing, Heineken and IKEA. Llamasoft’s AI-powered cloud platform helps companies make quick, informed supply chain decisions. Now more than ever, supply chain agility remains critical as economic conditions, consumer preferences and the political landscape continue to change amid the global pandemic.
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“We are witnessing an unprecedented shift in what businesses are demanding to effectively manage their supply chains," Rob Bernshteyn, chairman and CEO at Coupa said in a news release. "They need instant visibility, agile planning capabilities, and timely risk mitigation support.
"LLamasoft’s deep supply chain expertise and sophisticated data science and modeling capabilities, combined with the roughly $2 trillion of cumulative transactional spend data we have in Coupa, will empower businesses with the intelligence needed to pivot on a dime. Together, we will deliver a more powerful Business Spend Management platform to help organizations everywhere maximize the value of every dollar they spend in a smarter, simpler, and safer way.”
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At the beginning of the year, Llamasoft launched its newest product llama.ai, which helps bring forward valuable insights via proven supply chain algorithms. With nearly an unlimited number of use cases, llama.ai can run numerous what-if scenarios in order to help organizations make informed business decisions.
“We are very excited about joining forces with Coupa,” Razat Gaurav, CEO at LLamasoft said in a news release. “Combining Coupa’s market-leading spend management execution core and broad market reach with LLamasoft’s AI-powered supply chain analytics provides a unique opportunity to bring together digital transformation solutions that drive decision making and operational efficiency across the enterprise.
"I am equally excited for employees of both organizations who share a culture that prioritizes delivering innovation and exceptional customer value.”
In 2019, Llamasoft made Inc. Magazine’s 5000 list for the fifth year in a row and won the Supply & Demand Chain Executive Green Supply Chain Award.
“This very timely acquisition comes as supply chains are undergoing tremendous disruption that is best navigated using AI-enabled decision processes surrounding a digital twin of the end-to-end supply chain,” Mickey North Rizza, program vice president of enterprise applications and digital commerce at IDC said in a news release. “Incorporating supply chain planning capabilities as part of a comprehensive BSM strategy will give companies more visibility and control across their direct and indirect spend.”
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