AppZen

AppZen

artificial intelligence/machine learning
website linkedin address
  • FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    27 Dec, 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:
51-200
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:
$100.9 Millions
DATE OF LAST FUNDING:
Oct 2018
SEED & PRIOR FUNDING:
$2.9 Millions
SEED CLOSED ON:
Jun 2016
FUNDING SERIES:
SERIES A
$13 Million Closed: Nov 2017
SERIES B
$35 Millions Closed: Oct 2018
SERIES C
$50 Millions Closed: Sep 2019
LISTED:
NO

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Innovation Programmes

Mastercard Start Path
Mastercard Start Path
Commerce.Innovated
Commerce.Innovated

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