Appzen

Artificial Intelligence/Machine Learning

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255 VISITORS | 593 VIEWS

FOUNDING YEAR: 2012

LOCATION:

United States

REGION:

CA

Last Update:
27 Jun, 2019

Description

AppZen Inc. develops artificial intelligence solutions for back-office automation, including an automated solution for expense report compliance and audit.

FOCUS

PRODUCTS & SERVICES:

It offers an enterprise-level, automated expense reporting & auditing product that reviews expense report data, crosschecks it with external sources & social media in real-time, and detects compliance issues & fraud. The company’s data science-based technology automatically detects accidental, as well as intentional fraud, and provides real-time compliance to IRS rules, FCPA regulations, and company policies.

REVENUE MODEL:

Viewable by subscribers only

MAIN CLIENTS:

Some of the clients are Comcast, SemGroup, Sunrun, Silicon Image, Hitachi, National Instruments, Calypso, Amazon, Citi, Hitachi, Salesforce, Intuit, Airbus, CBS

COMMENT

AppZen’s patent pending, artificial intelligence based technology automatically creates expense reports, provides real-time compliance to regulatory requirements and company policies and automatically audits and assigns risk scores to every expense to detect fraud and misuse.

PEOPLE

FOUNDERS:

Anant Kale, Kunal Verma

Board Members and Advisors:

Simon Hagger, Simon Wood

NUMBER OF EMPLOYEES:

11-50

INVESTORS:

Lightspeed Venture Partners, Redpoint Ventures, Resolute Ventures, Bloomberg Beta, Silicon Valley Bank, FundersClub, Mastercard, 500 Startups, Best Horizon, Arba Seed Investment, Arif Janmohamed

TRACTION

VALUATION / MARKET CAP:

$175 MM in 2018

MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$52.5 Millions

DATE OF LAST FUNDING:

Oct 2018

SEED & PRIOR FUNDING:

$4.5 Millions

SEED CLOSED ON:

Jan 2017

FUNDING SERIES:

SERIES A

$13 Million Closed: Nov 2017

SERIES B

$35 Millions Closed: Oct 2018

LISTED:

LATEST RESEARCH

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