Coupa, the spend management software company, announced on May 21, 2026, that it had acquired Tonkean, a Palo Alto company whose software handles the intake and routing of internal requests for procurement, legal and other service teams. Financial terms were not disclosed.
Tonkean will be built into Coupa's platform, which Coupa says connects more than 3,500 buyers and 10 million suppliers. Coupa said customers would get Tonkean's orchestration tools inside the spend software they already use, without replacing existing systems. Tonkean co-founder and chief executive Sagi Eliyahu and his team join Coupa.
Coupa said Tonkean was its fourth strategic acquisition in its plan to build what it calls an agentic trade network, following Cirtuo, Scoutbee and Rossum.
What Tonkean built
Tonkean sells an intake orchestration platform. When employees send requests to internal teams such as procurement or legal, Tonkean collects each request, triages it and uses AI to automate its resolution, with processes tailored to each requester. Companies set up the processes with a no-code editor and a library of templates, and Tonkean offers more than 250 built-in connectors to other enterprise software.
The platform includes a natural language interface for submitting and tracking requests, and a framework for coordinating multiple AI agents, including agent-to-agent communication. Coupa said customers using Tonkean had seen user adoption rise 2.2 times, cycle times fall by 50% and operations teams save more than 30 hours a week. Coupa said Tonkean is used by many Fortune 500 companies but did not name them.
Tonkean also includes governance controls, which it says let large companies enforce compliance rules on their processes while keeping employees using them. The company positioned itself as a way to get staff to follow internal processes without retraining or custom code.
“We couldn't have created a more powerful combination in the market than joining forces with Coupa, unlocking tremendous value to customers far and wide.”
Why Coupa is buying
Coupa chief executive Leagh Turner said the company needs three things to automate transactions between buyers and suppliers: unified orchestration, strong buyer and supplier workflows, and clean data. Turner said that with the Rossum and Tonkean deals Coupa now had all the assets it needed. Lombardo described the set as a $10 trillion data foundation, the ability to read any document, sourcing intelligence and now an orchestration engine.
Salvatore Lombardo, Coupa's chief product and technology officer, said Tonkean's connectors would wrap around customers' existing systems and deliver orchestration from the first day without a replacement project. Coupa also said suppliers would benefit from one-to-many API connections.
Coupa marked its 20th anniversary in 2026. It says its network has delivered more than $300 billion in value to customers.
Coupa's announcement described the goal as two-sided workflow automation for buyers and suppliers, covering a purchase from the first internal request through to the final order and payment. Coupa said it now offers AI agent capabilities as a service across its network, built on its community-generated dataset of $10 trillion in spend.
The founders and the funding
Tonkean was founded in 2015. It is headquartered in Palo Alto and runs research and development in Tel Aviv. Its investors include Foundation Capital, Magma, Lightspeed and Accel.
According to its law firm Fenwick & West, Tonkean raised a $24 million Series A in April 2020, led by Lightspeed Venture Partners with Foundation Capital, Magma Venture Partners and Slow Ventures, and a $50 million Series B in June 2021, led by Accel with Lightspeed and Foundation Capital. No later round was reported, and Tonkean did not disclose its headcount.
Cascadia Capital was Tonkean's exclusive financial adviser and Fenwick & West its legal adviser on the sale. Kirkland & Ellis advised Coupa.
What happens to customers
Coupa said Tonkean would be natively embedded in its platform, and it scheduled a live demonstration of the combined product for June 4. It did not say whether Tonkean would continue to be sold as a separate product to companies that do not use Coupa.
Turner welcomed Eliyahu and the Tonkean team to Coupa. Eliyahu said Tonkean's intake and orchestration would serve as the foundation of Coupa's trade network, connecting buyers, sellers and AI agents.
