Coupa Software, a company that helps businesses track their spending, has acquired corporate travel price optimization startup Yapta. The companies did not disclose the financial terms of the deal.
Seattle-based Yapta has helped companies cut their corporate travel budgets 2% to 4% on average, saving more than $350 million to date by monitoring airfare and hotel prices in real time and sending alerts when prices drop.
Under the terms of the deal, Yapta will become part of Coupa’s travel and expense offering in its Coupa business spend management platform, the companies said.
“Business travel, which accounts for more than $1 trillion of spend per year, is often one of the spend areas within a business with the least visibility and control,” Coupa chairman and chief executive officer Rob Bernshteyn said in a statement. “Yapta offers greater transparency into travel spend, helping businesses get the most value from their travel planning.”
Yapta was founded in 2007. In 2012, it launched a corporate travel product, FareIQ, to complement its offerings geared toward consumers. With its FareIQ services, if a fare or rate drops enough to make changing the reservation worth it, the traveler gets an alert. Yapta considers any change fees from the airline, hotel, or travel management company before sounding the alarm.
In 2011, Yapta received a $5 million investment from Concur Technologies, which makes entertainment expense management software. Other investors include Voyager Capital, First Round Capital, and Bay Partners.
Yapta has about 90 employees. Its customers include Shell Oil, the NBA, and the Ford Foundation.
“Joining the team at Coupa offered a logical next step for our company given Coupa’s strong focus on delivering value across business spend management,” Yapta CEO James Filsinger said. “As an integral part of the Coupa BSM platform, Yapta will have greater reach and scale across Coupa’s growing customer base to deliver even greater value to businesses.”
In 2019, Yapta appeared on CFO’s Tech Companies to Watch list.