AppZen

artificial intelligence/machine learning

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 17/07/2020

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About

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

The company follows subscription plans: Expense Audit: charges $3 per report Expense Automation +Audit: charges $9 per month(per employee)

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.

Traction

VALUATION / MARKET CAP:

$175 M in 2018

People

FOUNDERS

Anant Kale

Kunal Verma

BOARD MEMBERS AND ADVISORS

Simon Hagger

Simon Wood

NUMBER OF EMPLOYEES

51-200

INVESTORS:

500 Startups

Arba Seed Investment

Arif Janmohamed

Best Horizon

Bloomberg Beta

Coatue Management

FundersClub

Lightspeed Venture Partners

Mastercard

RedPoint Ventures

Resolute Ventures

Silicon Valley Bank

Momentum

FUNDED

YES

TOTAL FUNDING

$100.9 M

DATE OF LAST FUNDING

Sep 2019

SEED & PRIOR FUNDING

$2.9 M

SEED CLOSED ON

Jun 2016

FUNDING SERIES

SERIES A  · $13 M  · Nov 2017

SERIES B  · $35 M  · Oct 2018

SERIES C  · $50 M  · Sep 2019

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2012

LOCATION:

United States

Views:

360 VISITORS | 757 VIEWS
LATEST FUNDING ROUND

$101 M

TOTAL EMPLOYEES
51-200

About

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

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Momentum+
Traction+
People+
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