Daily News

View All News

Tech Roundup: Coupa revenue up 47%; StaffDNA launches digital marketplace, some tech firms plan return to office

June 10, 2020

Coupa Software Inc. (NASDAQ: COUP) reports first-quarter revenue rose 46.6%, StaffDNA launches digital marketplace, some tech firms planning for return to office and freelancer banking app Lili announces a funding round.

Here’s more:

Coupa revenue up

Coupa Software Inc. (NASDAQ: COUP) reported Monday that revenue rose 46.6% to $119.2 million in its fiscal first quarter ended April 30. San Mateo, California-based Coupa acquired vendor management system provider DCR Workforce in August 2018.

The increase in absolute dollars was driven mainly through the acquisition of new customers and the sale of additional modules and uses to existing customers. Full impact of Covid-19 was uncertain at the time of filing, but the company said it is continuing to monitor the situation.

First-quarter gross margin narrowed to 64.1% from 66.4% in the year-ago quarter. Net loss was $14.8 million in the first quarter, down from $20.5 million in the first quarter of last year.

StaffDNA launches digital platform for healthcare professionals

StaffDNA launched a digital marketplace that enables healthcare professionals to find and manage jobs for travel, local and permanent contracts.

“The staffing model has been stagnant for more than 75 years and is inherently inefficient in today’s world,” said Sheldon Arora, founder and CEO of StaffDNA. “So, we built one that is going to revolutionize the industry as we know it.”

StaffDNA started a pilot of the digital marketplace two months ago and it now has an average of 5,000 mobile app downloads per month and 1,000 unique candidates applying to jobs per month.

Healthcare professionals on the platform can search for jobs nationwide. They can customize pay packages by selecting housing options, benefits and travel allowance and apply to jobs. The platform also allows for tracking job submittal status as well as managing compliance requirements, timesheets and assignments.

Large tech firms eye return to office

Apple Inc. and Google are laying out plans to get employees back to the office. Apple Insider reported Apple plans to start phase one on June 15 by bringing in a small number of essential employees to the office. In-office schedules will be staggered and building occupancy will be restricted. In addition, staff must wear masks and undergo temperature and health checks. Social distancing will also be practiced.

SFGate reported Google plans to start letting employees return to the office on July 6, but they will not be able to access gyms or sleep pods. They will also face temperature checks and social distancing measures will be in place. Masks will be required, and it will not provide workers with breakfast or dinner.

Freelancer banking app Lili raises $10 million

Lili, a banking app for freelancers, raised $10 million in a seed funding round, AlleyWatch reported. The app provides banking services and offers expense tracking, tax tools and financial insights. The funding round was led by Group 11 with participation from Foundation Capital, AltaIR Capital, Primary Venture Partners and Torch Capital.