General Atlantic Closes on First Technology Buyouts Transaction with $450 Million Investment in Coupa Software Acquisition

Acquisition was led by Thoma Bravo in an all-cash transaction valued at approximately $8 billion

New York, NY—February 28— General Atlantic, a leading global growth equity firm, announced today that it has completed a $450 million minority investment in the acquisition of Coupa Software, a leader in Business Spend Management (BSM). The agreement to be acquired was previously announced on December 12, 2022, and approved by Coupa stockholders at Coupa’s Special Meeting of Stockholders held on February 23, 2023. Jonathan Durham, Managing Director and Head of Technology Buyouts at General Atlantic, will join Coupa as a board observer.

“Coupa is a pioneer of cloud-based business spend management and continues its mission to innovate in this important and growing software category,“ said Jonathan Durham, Managing Director and Head of Technology Buyouts at General Atlantic. “Marking the first transaction from our Technology Buyouts group, we believe Coupa is emblematic of the high quality companies with strong market position and durable growth we seek to invest behind. We are excited to back Rob and the dedicated management team at Coupa, and partner with Thoma Bravo to support Coupa’s future.”

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 495 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has over $72.6 billion in assets under management inclusive of all products as of September 30, 2022, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit:

Media Contacts

Emily Japlon & Gurion Kastenberg
General Atlantic [email protected]