A startup worth over $1 billion had $83 million in revenue last year — and it just filed to go public

 
Coupa CEO Rob Bernshteyn Youtube/Coupa

Coupa, a financial software company last valued at over $1 billion, has justfiled to go public.

The filing is the latest in what's turning out to be one of the slowest tech IPO market ever. Only 5 tech companieshave gone public this year.

Here's a quick rundown of some of the most interesting numbers from Coupa's filing:

• It had $83.6 million in revenue in 2015 (up 66% year-over-year)
• It lost $46 million last year. But its net loss is shrinking, as it lost $24.3 million in the first six months of this year, slightly down from the $25.1 million net loss recorded in the same period of last year.
• It spent 65% of its revenue on sales and marketing. That dropped to 58% in the first six months of this year.
• Holds ~$80 million in cash as of July 2016. Coupa's raised $169 million in total in private funding.

Coupa is best known for its procurement software that helps companies buy suppliers and manage suppliers, though it also offers other financial software.

Coupa last raised $80 million in June 2015, when it was reportedly valued at over $1 billion. That means the company earned the coveted "unicorn" status with less than $100 million in annual revenue.

That makes Coupa's IPO an interesting case to watch as its annual revenue is much smaller than that of some of the other tech companies with similar valuations.

Twilio, for example, had $167 million in revenue in 2015, the same year it first became a startup worth $1 billion. Nutanix, who raised at a $2 billion-plus valuation in August 2014, had $241 million in revenue in 2015 (fiscal ended July 2015). Talend, a French company that went public in July, now has a market cap of ~$750 million, although it had $75 million in revenue last year.

In any case, Coupa's IPO should be a nice pay day for Battery Ventures, who owns over 16% of the company. Its CEORobert Bernshteyn owns 5.8% share of the company.