AppZen is an artificial intelligence platform for modern finance teams. It is the world's leading solution for automated expense report audits. AppZen has developed the world's first artificial intelligence (AI) solution for back office automation.
AppZen's enterprise level automated expense reporting and auditing product reviews expense report data, crosschecks it with external sources and social media in real-time, and detects compliance issues and fraud.
AppZen was founded in 2012 by Anant Kale & Kunal Verma. The company is based in San Jose, California with an additional office in Chandler, Arizona.
AppZen's patent pending data science-based technology automatically detects accidental as well as intentional fraud, and provides real-time compliance to FCPA regulations, IRS rules, and company policies. In addition, the solution automatically audits and assigns risk scores to every expense, protecting the company from expense misuse and regulatory non-compliance.
AppZen is pre-integrated with all major expense automation and payables applications to make existing audit and control processes 10x more effective, at a fraction of the cost.
AppZen is backed by top leading investors including Redpoint, Coatue Management, Lightspeed Venture Partners, Resolute.vc, Silicon Valley Bank, FundersClub, Bloomberg Beta, & Amicus Capital among others. The company raised $50M in its latest "Series C" fundraising on Sep 9, 2019. This brings AppZen's total funding to $100.9M to-date.
AppZen was the winner of 2018 TiE50 Award - top-50 startup from 7,400+ startups across 28 countries 2017 AI Startup of the Year.