Info-tech

US-based AppZen opens development centre in Pune

Our Bureau Pune | Updated on November 22, 2019 Published on November 22, 2019

AppZen, the world’s leading AI platform for modern finance teams, has opened a development centre in Pune.

The facility was inaugurated by AppZen CFO Naresh Bansal; and Head of India Operations Mandar Munagekar. The company wants to tap into the Pune talent pool and focus on enhancing its AI Platform through the new centre as it broadens its global reach.

Earlier this year, the company announced its entry into India with Pune as its Indian headquarters.

Series C funding

A fast growing start-up, AppZen, recently raised Series C investment of $50 million through Coatue Management.

With previous investments through Redpoint Ventures and Lightspeed Venture Partners along with Coatue, the total investments raised by the company clocks to over $100 million till date.

AI-powered platform

The company’s biggest product is the service that automatically audits expenses using AI.

The company has been working on building AI-powered platform for finance teams by automating spend approvals and providing insights that help reduce spend, comply with policy, and streamline process.

Munagekar said in a press statement, “By using a lot of our tacit knowledge in the data science area, we want our growth to be smarter. This will be key to create a talent pool with high end engineering and data science background for our growing global customer base”

Published on November 22, 2019
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