Coupa to acquire Israeli AI startup Tonkean
American software company Coupa agreed to acquire Israeli startup Tonkean, a developer of AI-powered workflow automation and orchestration software, in a transaction estimated at several hundred million dollars.
Tonkean has raised approximately USD 84 million to date from Magma Venture Partners and other leading investors. Its platform helps procurement, legal, finance, and HR teams build and manage workflows using natural language, connecting with more than 250 enterprise systems.
The acquisition supports Coupa’s push to expand its AI platform for procurement and supply chain management, particularly as enterprise software companies compete to build agentic AI tools capable of handling increasingly autonomous business processes.
Kirkland & Ellis represented Coupa on the transaction. Fenwick & West acted for Tonkean.
Erdinast, Ben Nathan, Toledano advised Magma Venture Partners, with a team led by Roy Caner, Jonathan Achiron, and Shahar Amshalom.
