Inc. magazine recognizes autonomous finance leader for outstanding revenue growth over three-year period
SAN JOSE, Calif., (Aug. 17, 2021) AppZen, the leader in autonomous finance operations for modern finance teams, announced that it has been ranked No. 171 on Inc. Magazine’s annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies with the highest rate of growth over a three-year period. In that time, AppZen has achieved a 2,774% increase with industry-leading products built for finance teams.
“We are incredibly honored to be ranked so highly by Inc. magazine, recognizing the incredible growth we have experienced with our AI-first approach for finance teams,” said Anant Kale, CEO and co-founder of AppZen. “The pandemic accelerated the speed to digital transformation for organizations across the globe, and our patented Mastermind AI has helped teams streamline spend workflows with increased speed, efficiency, and compliance. We look forward to continued growth in establishing AppZen as the AI platform for finance operations.”
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, this year’s listees also proved especially resilient and flexible, given the unprecedented challenges over the last 18 months. Among the 5,000, the average median three-year growth rate soared to 543%, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
AppZen is the only AI-powered software to automate manual finance processes, delivering the first autonomous finance operations system for reducing expenditures, minimizing risk, and gaining on-demand insights into business spend trends. With AppZen, every finance team has a system of intelligence capable of reading, understanding, and making real-time decisions based on corporate spend policies. AppZen also allows companies to make adjustments as policies change, with customizable apps from the AppZen AppStore. Over a three-year period, AppZen has grown exponentially, increasing ARR by over 2,000%.
AppZen is the leader in Finance AI software empowering autonomous finance operations for modern finance teams. Our patented Mastermind AI accurately and efficiently processes intelligence from thousands of data sources so that organizations can better understand internal spend and make smarter business decisions. It seamlessly integrates with existing Expense and AP workflows to read, understand, and make real-time decisions based on your unique spend policies, leading to faster processing times and fewer instances of fraud or duplicate spend. Over 1,000 global enterprises, including one-third of the Fortune 500, use AppZen’s Expense Audit and Autonomous AP products to replace manual finance processes, and accelerate the speed and agility of their business. To learn more, visit us at www.appzen.com.
More about Inc. and the Inc. 5000
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly-acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.