Coupa Software, the leader in cloud-based spend optimization software, today announced it ranked No. 115 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Coupa was recognized for its phenomenal growth rate of 1,006 percent from 2007 to 2011.

Rob Bernshteyn, CEO of Coupa, credits its platform, people and processes, along with the company’s winning revenue growth as the primary factors contributing to its ranking.

“Coupa’s stellar performance and record growth is a testament to a platform that is truly cloud-based and built on Ruby on Rails, which allows for rapid innovation and accelerated time-to-value. Additionally, the people at Coupa are passionate about spend optimization and are key to our approach, which is myopically focused on customer success,” said Bernshteyn.

Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging from 128 percent to 279,684 percent from 2007 to 2011, with an average growth of 2,774 percent.

Coupa’s inclusion on Deloitte’s Fast 500™ comes on the heels of several other prestigious recognitions, including the 2012 TMC Labs Innovation Awards in which Coupa was honored for transforming the procurement industry, as well as its most recent recognition from The Wall Street Journal as the “Next Big Thing,” recognizing Coupa as a top 50 start-up.

About Deloitte’s 2012 Technology Fast 500™

Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.

About Coupa Software

Founded in 2006, Coupa Software is the fastest-growing provider of cloud-based spend optimization software. More than 250 customers in 40 countries use Coupa purchasing and procurement software to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true-cloud procurement application that enables customers to launch the solution rapidly and quickly realize significant savings. Learn more at: http://www.coupa.com or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.