A San Francisco FinTech has swooped for London-based AI firm Rossum.
Coupa, a platform for autonomous spend management, has acquired Rossum, behind intelligent document processing solutions.
Rossum, founded by three university AI dropouts from Prague, raised £72 million in 2021.
The acquisition builds on a partnership that automates complex invoicing for accounts payable teams. It will extend the capability across the entire Coupa portfolio, enabling autonomous spend management with agentic AI.
Rossum’s technology is powered by a specialised transactional large language model and enables faster processing, meaningful cost savings and greater data control in complex invoicing across direct and indirect spend.
“Rossum changes the game entirely. As a strong partner since 2024, we know there is incredible value in bringing the two companies together across the entire source-to-pay function,” said Leagh Turner, Coupa CEO.
“The combined value of Coupa and Rossum has been proven in AP and invoicing, and we see massive future value in applying Rossum’s T-LLM and AI-first technology across the Coupa platform.
“We’ve been able to deliver over $300 billion in customer savings over the past 20 years. With Rossum, we believe we can help them save the next $300bn in five with a system of decision and intelligence that is unrivalled.”
Tomáš Gogár, Rossum CEO and co-founder, added: “Joining Coupa is the natural evolution of a years-long partnership built on a shared AI-first culture.
“By combining our proprietary T-LLM transactional intelligence with Coupa’s massive $10 trillion data set, we are well positioned to create immediate customer value and fundamentally change how the world buys and sells.”
Kirkland & Ellis LLP served as counsel to Coupa with respect to the transaction.
Guggenheim Securities, LLC served as exclusive financial advisor and Orrick, Herrington & Sutcliffe LLP served as legal advisor to Rossum.
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