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AppZen Secures $180M Series D to Scale AI Agents for Enterprise Finance

AppZen raised $180M Series D led by Riverwood Capital to scale its AI platform. It automates AP, cards, and T&E, cutting 50% of manual work with human review and global reach.

Categorized in: AI News Finance
Published on: Sep 23, 2025
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AppZen Secures $180M Series D to Scale AI Agents for Enterprise Finance

AppZen Raises $180M to Scale Enterprise AI Finance Automation

AppZen secured $180 million in Series D growth funding led by Riverwood Capital. The company plans to expand its autonomous finance software used by enterprise finance teams to cut manual work and tighten controls.

What AppZen Does

Founded in 2012, AppZen provides an agentic AI platform that automates accounts payable, corporate card management, and travel and expense. Its "digital workers" run on over 200 specialized ZenLM finance models that act on behalf of employees, enabling no-code workflows built from existing process knowledge.

The models are trained specifically for finance and semantic context, supporting more than 40 languages across 60 countries. Enterprises use the platform for multi-entity and multi-currency operations while maintaining policy and regulatory guardrails.

Why It Matters for Finance Leaders

  • Throughput without headcount: AppZen reports replacing over 50% of manual work, helping teams scale reviews and close cycles faster.
  • Spend control and compliance: AI agents check transactions against policy, catch spend leakage, and enforce approval logic consistently.
  • Human-in-the-loop by design: The system flags edge cases for review; feedback loops improve decisions over time.

How the Agents Work in Practice

  • Expense and invoice reviews: read receipts, verify line items, apply policy rules, and approve or reject transactions.
  • Corporate card monitoring: detect out-of-policy merchants, duplicate charges, and missing documentation.
  • Global coverage: support for multi-entity workflows, currencies, and local rules across 60 countries.

Competitive Context

Vendors such as UiPath and BlackLine also focus on process automation. AppZen emphasizes agentic decisioning: AI agents make context-aware calls within policy, while escalating exceptions to people.

Go-To-Market Momentum

In August, AppZen partnered with Sales Innovation to expand across the Asia-Pacific region. The partnership targets B2B software providers to extend distribution and implementation capacity.

Action Checklist for CFOs, Controllers, and AP Leaders

  • Map your top manual workloads (AP, T&E, corporate cards) and set 90-day pilot goals with KPIs: cycle time, first-pass approval rate, and spend leakage.
  • Codify policy rules clearly (merchant categories, thresholds, receipt requirements) so agents can execute them without ambiguity.
  • Plan integrations early: ERP connectivity, SSO, role-based access, and immutable audit logs.
  • Define exception handling tiers and sampling plans; route high-risk items to senior reviewers.
  • Measure outcomes weekly and feed reviewer feedback back into the system to improve decision quality.

Risk and Governance Notes

  • Policy drift: monitor precision/recall on approvals; adjust rules before scaling to new entities.
  • Localization: confirm language coverage and regional tax/compliance checks per country.
  • Change management: train approvers on new queues and clarify when to override or escalate.

Bottom Line

The new funding, led by Riverwood Capital, signals stronger demand for autonomous finance at enterprise scale. If your 2025 plan targets lower processing cost per transaction and tighter controls, shortlist agentic AI options and benchmark against AppZen's reported >50% manual work reduction.

Further Resources