Coupa, a cloud-native spend management platform backed by Thoma Bravo, has acquired Tonkean, an agentic intake and orchestration platform provider.
The acquisition marks Coupa’s fourth strategic deal following its acquisitions of Cirtuo, Scoutbee and Rossum, and is intended to enhance workflow automation, orchestration and AI-driven execution across Coupa’s network of more than 3,500 buyers and 10 million suppliers. Founded in 2015, Tonkean provides a no-code intake and orchestration platform that enables enterprises to automate procurement, IT, HR and operational workflows without requiring changes to existing systems. Tonkean is headquartered in California and serves enterprise customers seeking to modernize internal operations through AI-driven automation.
Kirkland & Ellis served as legal counsel to Coupa, while Cascadia Capital acted as financial advisor to Tonkean and Fenwick & West served as its legal advisor.