Who Owns SAP Concur?

Brothers Steve and Rajeev Singh founded Concur Technologies in 1993 in Bellevue, Washington, initially selling software for expense reporting before pivoting to web-based delivery in the late 1990s. The timing proved lucky: Concur survived the dot-com crash and established itself as the leading cloud expense tool while competitors were still shipping desktop software.

Concur went public on Nasdaq in 1998 under ticker CNQR and spent the 2000s acquiring and building: it bought outplacement vendor Gelco Information Management, then added business travel booking through acquisitions including Outtask (which gave it TripLink's foundation) and Cliqbook. The combination of travel booking and expense reporting in one cloud suite became its defensible position.

Steve Singh built the company methodically, emphasizing customer retention and recurring revenue before SaaS metrics were fashionable. By 2014, Concur had more than $700 million in annual revenue, 23 million users, and near-total dominance in enterprise travel and expense among large companies.

SAP's $8.3 billion acquisition in December 2014 was its largest ever and signaled its aggressive move into cloud applications. Concur operated relatively independently at first; Singh left in 2016 and subsequent leaders ran it inside SAP's cloud applications structure. Under SAP, the product expanded globally and integrated with SAP's ERP systems, while maintaining its own user base and the TripIt consumer travel organizer.

Recent years have focused on AI-driven expense automation, tighter integration with SAP S/4HANA and the SAP Business Network, and expansion of the App Center partner ecosystem that connects Concur data to hundreds of third-party applications.