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Company One-Pager: pdf
AppZen has developed the world’s first artificial intelligence (AI) solution for back office automation. We’re a proud graduate of 500 Startups and backed by Resolute Ventures, Bloomberg Beta, FundersClub, Mastercard, and Silicon Valley Bank.
Our AI for business solution uses patent-pending Natural Language Processing machine learning algorithms to analyze data and automate back office functions. The 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. In addition, the solution automatically audits and assigns risk scores to every expense, protecting your company from expense misuse and regulatory non-compliance.
AppZen was founded in 2012 by long-time friends, Anant Kale and Kunal Verma. They decided to bring their expertise in enterprise solutions and artificial intelligence together to improve employee productivity and reduce back office inefficiencies. Their team of business process & enterprise systems experts and PhDs are hard at work making AI for business a reality.
February 8, 2017: AppZen Awarded “Best AI Startup” Recognition by the AI Awards
AppZen has raised $13 million in a series A financing round led by Redpoint Ventures with seed investor Resolute Ventures also participating. AppZen sells into large businesses and looks to automatically audit expense reports in order to encourage employees to ensure they are only expensing the right things to the company and not going out of bounds — by a little or a lot.
Outsource your boring back office paperwork to AI – AppZen uses computer vision and natural language processing (NLP) to automate and audit a firm’s expenses. As a complete solution, AppZen automatically captures expenses and analyzes receipts, credit card transactions, and even travel bookings with internal and external sources. It then audits these data, ensures that everything complies with regulatory standards, and catches costly human error.
Artificial Intelligence: The Answer to More Effective Business Compliance – AI auditors allow companies to employ the equivalent of an entire army of personnel that’s ultimately capable of performing review, research, and decision-making tasks faster and more accurately than any human auditor can
Small Business Tech News This Week – Auditing app AppZen has added computer vision and AI to help better spot sketchy charges in expense reports
Artificial Intelligence: Present Trends and Its Future – “Application of AI will bring in the most disruption in every process that we know of in the enterprise,” says Anant Kale, CEO of AppZen”
Exploring the Upside of Evolving A.I. Business Solutions – There’s no longer any question that AI (artificial intelligence) is transforming the business world, and this is great news when it comes to successfully maintaining a corporate infrastructure modeled on the three pillars of governance, risk management and compliance (GRC)
Artificial intelligence: Are you ready for the fourth industrial revolution? – Thanks to revolutionary advancements in robotics, web services and artificial intelligence (AI), we’re standing on the brink of a fourth industrial revolution
AI Expert: How the Fourth Industrial Revolution Will Impact Our Lives – Anant Kale, Co-Founder and CEO of AppZen, explores how artificial intelligence will profoundly affect the way we structure our workforce
This Auditing App Lets Your Boss Police Suspicious “Work” Cocktails – AppZen, which offers automated auditing services, just added computer vision and AI to help spot sketchy charges in expense reports
AppZen Launches ReceiptIQ™ – Computer Vision Technology to Enhance AI-Driven Automated Expense Report Auditing Solution
How Artificial Intelligence is transforming business T&E – “Artificial Intelligence allows companies to detect opportunistic behaviors that lead to T&E policy noncompliance because automated technologies like machine learning, computer vision, and Natural Language Processing (NLP) make it possible to regularly spot anomalies in employee expense reports.”
AppZen Uses AI to Scrutinize Expense Reports – “AppZen has introduced new technology that is leveraging artificial intelligence to examine expense reports for signs of fraud”
Artificial Intelligence – The New Superpower For Compliance – “real-time compliance can be achieved today through artificial intelligence. Artificial intelligence-powered robots have the potential to disrupt how companies conduct back-office business operations, bringing in new levels of productivity improvements, cost efficiency and compliance and risk mitigatiom”
Expense Management Gets a Dose of Intelligence – “AppZen’s value-add represents a step forward in unstructured data analytics in support of corporate cost savings. While fraud- and error-prevention in expense management is an attractive value-proposition to most companies, the real “gem” here is how AppZen is able to support regulatory initiatives around Know Your Customer (KYC) mandates, Anti-Bribery Acts, Anti-Money-Laundering (AML) regulations, and Anti-Corruption laws.”
The head of Bloomberg’s $150 million VC fund explains the formula for finding a top AI startup – “Startups that have fit the bill and have recently earned investment from Bloomberg Beta include AppZen, an app that uses AI to detect peculiarities in employee expense accounts”
Rise of the machines: how artificial intelligence could revolutionize compliance – “…due to the high cost of expense auditing, most companies use random sampling and threshold-based auditing to catch policy violations or fraud, which has made them passive and leaves them at risk. With machine-learning algorithms, however, companies can review expense report data, crosscheck it with external sources and social media in real-time, and detect compliance problems.”
AI Can Now Automate Your Expense Reports – “The ongoing proliferation of AI will soon reach every corner of a businesses financial crux, with AppZen leading the race as perhaps the only contender to offer backend automation”
Meet 500 Startups’ New Batch – “our picks for the top companies from the 11th Mountain View batch”