U.S. based AppZen opens Development center in Pune


– To further enhance its AI platform through the new state-of-the art-facility
– Plans to tap the local market for talent acquisition

Pune, Monday (November 18, 2019):AppZen, the world’s leading AI platform for modern finance teams, recently announced the opening of its development center in Pune. The state-of-the-art facility was inaugurated by AppZen CFO Naresh Bansal and Head of India Operations Mandar Munagekar.  The companywants to tap into the Pune talent pool andfocus on further enhancing its AI Platform through the new center as it broadens its global reach.

Earlier this year, the company announced their entry in India with Pune as their Indian headquarters.One of the fastest growing startups, AppZen, recently raised a Series C investment of $50 million in funding 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.

The company’s biggest product is the service that automatically audits expenses using AI.The companyhas been working on building AI-powered platform for the modern Finance Teams by automating spend approvals and providing insights that help reduce spendcomply with policy, and streamline process.

AppZen recently surpassed the 1,500 customer mark, attracting more than 25 percent of Fortune 500 companies, including Amazon, Nvidia, Salesforce, Verizon, three of the top 10 banks in the U.S., four of the top 10 media companies, three of the top 10 pharmaceutical manufacturers, two of the top five aerospace companies and a number of other software providers.

Commenting on the development, Mandar Munagekar,Head of Indian Operations says“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 sciencebackground  for our growing global customer base”

Naresh Bansal, CFO, AppZen, says, “We are a leading AI platform and hence we require employees with varied skillsets and backgrounds making it a highly diverse workforce.We are committed to grow and invest in Pune and tap into the local talent, which is coming up as a hub for many leading technology companies”.

About AppZen

AppZen delivers the world’s leading AI platform for modern finance teams. Starting with business spend, we automate manual process, uncover problems, and optimize decision making for enterprises around the globe, including one-fourth of the Fortune 500. Our platform combines patented deep learning, computer vision, and semantic analysis with intelligence from thousands of online data sources to understand financial transactions in business context and make decisions before those transactions happen. AppZen is a must have for CFOs and their teams to reduce spend, comply with policy, and streamline process.

For more information, please check: www.appzen.com

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