San Francisco fintech company Coupa has acquired Rossum, a London-based artificial intelligence firm specialising in intelligent document processing. Rossum was established by three university researchers from Prague and previously secured £72 million in funding in 2021.
The acquisition is an extension of a partnership formed in 2024 aimed at automating complex invoicing for accounts payable departments. Coupa plans to integrate the technology across its entire portfolio to enable autonomous spend management through the use of agentic artificial intelligence.
The technology developed by the London firm utilises a specialised transactional large language model. This system is designed to facilitate faster processing and improve data control for complex invoicing involving both direct and indirect business expenditure.
The combined platform will leverage the transactional intelligence of the acquired firm alongside the extensive data set held by the parent company. This integration is intended to assist businesses in managing transactional workflows and identifying potential savings more efficiently than through traditional manual methods.
Leagh Turner, Coupa CEO, commented: “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. 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, said: “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.”
Image source: Coupa
