Coupa announced it is acquiring Tonkean, an AI-native intake and orchestration platform, in a move designed to accelerate autonomous workflow automation and agentic trade capabilities across Coupa’s global network of buyers and suppliers.
The company said the acquisition strengthens its ambition to build the world’s leading agentic trade network and autonomous spend management platform. Coupa noted that it now supports more than 3,500 buyers and 10 million suppliers globally and has amassed a $10 trillion dataset through its platform.
According to Coupa, Tonkean adds industrial-grade intake and orchestration technology, including a natural language interface, multi-agent orchestration framework, Agent-to-Agent coordination capabilities, and more than 250 native integrations. The company said these capabilities will allow enterprises to automate complex workflows, reduce manual handoffs, shorten operational cycle times, and improve adoption of procurement and internal service processes.
Coupa said the acquisition follows its previous strategic acquisitions of Cirtuo, Scoutbee, and Rossum as part of its broader AI and autonomous spend management strategy.
The company added that Tonkean’s no-code workflow builder and orchestration layer will integrate with existing enterprise architectures without requiring customers to replace existing systems. Coupa also highlighted that Tonkean’s platform has driven a 2.2x increase in user adoption, reduced cycle times by 50%, and saved operations teams more than 30 hours per week.
Support: Kirkland & Ellis LLP served as counsel to Coupa on the transaction. Cascadia Capital acted as exclusive financial advisor to Tonkean, while Fenwick & West LLP served as legal advisor.
KEY QUOTES:
“The acquisition of Tonkean is game-changing for Coupa and the market. For twenty years, we’ve built a global trade network that brings together buyers and sellers for the purpose of optimizing trade and spend. To date, we’ve delivered more than $300 billion of value to that network and amassed a dataset of $10 trillion. To deliver the promise of increasingly autonomous execution of transactions between buyers and suppliers, you need three main things, industrial-grade and unified orchestration, best-in-class buyer and supplier workflows, and clean, trusted data. With the acquisitions of Rossum and Tonkean, in short order, we have now amassed all the assets to make this promise possible for both buyers and suppliers at a time when buying and selling is getting more complex and costly. We couldn’t be more excited to welcome Sagi and the Tonkean team to Coupa.”
Leagh Turner, CEO of Coupa
“This is a deliberate, strategic step toward building the #1 agentic trade network and delivering autonomous spend management at speed and scale like no one else in the market. We’ve assembled the ultimate procurement toolkit: a $10 trillion data foundation, eyes to read any document, intelligence to source smarter, and now the ultimate engine to orchestrate modern, agentic work. Tonkean brings a 100% no-code process builder and 250+ native connectors that wrap seamlessly around customers’ existing architecture. This delivers advanced orchestration and unified integrations on day one with zero rip-and-replace. With Tonkean natively embedded in Coupa, customers get best-in-class orchestration and the best spend platform they already trust, in a single, unified agentic architecture.”
Salvatore Lombardo, Chief Product and Technology Officer of Coupa
“We couldn’t have created a more powerful combination in the market than joining forces with Coupa, unlocking tremendous value to customers far and wide. With our industrial-grade intake and orchestration now serving as the backbone and foundation for their industry-leading agentic trade network and data, we will seamlessly connect buyers, sellers, and agents in a unified way to deliver autonomous trade in a way that no other company can match, and in turn drive exponential business value for customers. This massive opportunity greatly excites my team and me, and we are thrilled to join Coupa.”
Sagi Eliyahu, Co-Founder and CEO of Tonkean
