Travel price optimisation platform Yapta has been acquired by Business Spend Management (BSM) software company Coupa Software for an undisclosed sum.
Based in Seattle, Yapta monitors air fare and hotel prices in real time and sends savings alerts to corporates when prices drop. The company claims to work with more than 100 of the Fortune 500 and reports an average 2-4 per cent of corporate travel budgets in savings equalling to more than US$350 million to date.
Yapta has been shortlisted in the upcoming Business Travel Awards for Best Specialist Business Travel Service, while the latest version of its TravelAI Hotel solution is shortlisted for Best New Travel Technology Product. In 2019, it was named for the third consecutive year to Deloitte’s 2019 Technology Fast 500 list.
According to Coupa, the acquisition will enable it to offer more value across BSM by giving companies the tools to achieve greater savings in travel and expense.
Yapta’s price optimisation solution will be offered as part of the BSM platform.
Rob Bernshteyn, chairman and CEO of Coupa, commented: “Business travel, which accounts for more than US$1 trillion of spend per year, is often one of the spend areas within a business with the least visibility and control. Yapta offers greater transparency into travel spend, helping businesses get the most value from their travel planning. I am excited to welcome the Yapta team to Coupa and look forward to furthering our joint mission of empowering businesses with the visibility and control they need to spend smarter.”
Yapta CEO James Filsinger added: “Yapta was founded on the concept of enabling traveller to get the most value and savings out of their travel plans, and we’re proud to have saved our corporate customers across the globe hundreds of millions of dollars. 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. 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.”