Key facts

Founded
2012
HQ
San Jose, United States
Employees
—
Website
Funding stage
Series D · US$180m
LinkedIn
Further facts
  • Funding: AppZen raised a US$180m Series D led by Riverwood Capital in September 2025 to expand its Mastermind AI Studio and agents.
  • Timeline: AppZen launched AI Agent Studio in December 2025, completed a Workday Design Approved integration for Expense Audit in March 2026, launched Autonomous Cards in September 2026 and introduced the ZenLM Plus finance language models in October 2026.
  • Scale: More than 500 global enterprises, including over 65 of the Fortune 500, use AppZen for transaction processing.

Focus areas

Spend management Finance automation Card issuing Regulatory compliance Office of the CFO

About

AppZen is a San Jose-based software company, founded in 2012, that automates finance operations for large enterprises. Its agents audit travel and expense claims, process supplier invoices through accounts payable and review corporate-card transactions, so finance teams can check every transaction rather than a sample. More than 500 enterprises use the platform, including Amazon, Boeing, Salesforce, Novartis and JPMorgan Chase. Co-founder Anant Kale is chief executive, and the company raised a US$180m Series D led by Riverwood Capital in September 2025.

How they use AI

The Mastermind AI automation platform reads receipts, invoices and card data and applies finance-specific reasoning to decide whether a transaction meets policy. AI Agent Studio turns a customer's standard operating procedures into configurable agents for finance workflows, Autonomous Cards evaluates every eligible card transaction using merchant, Level 3 and supplier data across existing bank programmes, and the ZenLM Plus language models are trained for finance tasks inside Expense Audit, with general availability due in December 2026.

Products and services

  • Expense Audit — AI review of every travel and expense claim against policy
  • Autonomous AP — Invoice capture, coding and processing for accounts payable
  • Autonomous Cards — AI agents that review and reconcile enterprise card programme spend
  • AI Agent Studio — Builder that converts finance procedures into production agents
  • Mastermind AI automation platform — Shared reasoning and execution layer under AppZen's agents
  • ZenLM Plus — Finance-trained language models inside Expense Audit

Notable customers / partners

Key people

  • Anant Kale — Co-Founder and Chief Executive Officer
  • Kunal Verma — Co-Founder and Chief Technology Officer
  • Gaurav Agrawal — Chief Financial Officer
  • Nick Butrym — Chief Revenue Officer
  • Pat Oldenburg — Chief Marketing Officer

Investors