Cirtuo Acquired by Coupa: A Leap in AI-Powered Category Management
Deal News | May 13, 2025 | Thoma Bravo
Coupa, a leading AI-native total spend management company, has acquired Croatia-based Cirtuo, renowned for its AI-powered category management solutions. This acquisition is set to enhance Coupa's capability in autonomous spend management, reinforcing their commitment to leveraging AI solutions for boosting productivity, agility, and resilience while effectively impacting margins. Cirtuo's technology is anticipated to bridge the gap between strategic planning and tactical execution in procurement by integrating with Coupa's system, allowing a seamless translation of data-driven strategies into actionable supplier engagements and cost savings. This initiative aims to enhance procurement processes through AI-driven solutions, contributing to sustainability, risk mitigation, and innovation. Among notable clients who have benefited from Cirtuo's expertise include Walmart, Novartis, and BT Sourced. Financial and legal advisory for the deal was provided by Kaizen Equity Partners, Kirkland & Ellis, and Wolf Theiss.
Sectors
- Financial Technology (FinTech)
- Artificial Intelligence
- Procurement and Supply Chain Management
Geography
- United States – Coupa is based in Foster City, California, and operates primarily in the United States.
- Croatia – Cirtuo, the acquired company, is headquartered in Croatia, playing a significant role in this international acquisition.
Industry
- Financial Technology (FinTech) – Coupa's acquisition of Cirtuo enhances its AI-driven procurement and spend management platforms, which are characteristic of the FinTech sector.
- Artificial Intelligence – The integration of AI-powered solutions in category management by Coupa and Cirtuo underlines the prominence of AI technologies in transforming procurement operations.
- Procurement and Supply Chain Management – Coupa and Cirtuo are both involved in developing solutions for optimizing procurement strategies, which is central to supply chain management.
Financials
- Not Disclosed – The financial terms of Coupa's acquisition of Cirtuo have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Coupa | Acquiring Company | Company | A leader in AI-native total spend management, enhancing procurement processes with AI technology. |
| Cirtuo | Target Company | Company | An industry leader in AI-powered category management, offering tools to improve procurement strategies. |
| Thoma Bravo | Private Equity Firm | Company | A private equity firm with a significant investment in Coupa. |
| Kaizen Equity Partners | Financial Advisor to Cirtuo | Company | Provided financial advisory services for the acquisition deal. |
| Kirkland & Ellis | Legal Advisor to Coupa | Company | Provided legal services for the acquisition process. |
| Wolf Theiss | Legal Advisor to Coupa | Company | Provided legal counsel alongside Kirkland & Ellis for the deal. |
| Salvatore Lombardo | Chief Product and Technology Officer, Coupa | Person | Oversees AI-native solutions development at Coupa, instrumental in the acquisition strategy. |
| Drasko Jelavic | CEO, Cirtuo | Person | Leads Cirtuo, focusing on integrating AI-driven category management solutions. |