AppZen Raises $35 Million for Expense Automation: Travel Startup Funding This Week
Photo Credit: AppZen co-founders Kunal Verma (left) and Anant Kale are pleased that their startup has received $35 million in funding. AppZen
Skift Take
AppZen wants to remove the stress from filing monthly expense reports at companies worldwide, and it applies artificial intelligence to address the problem in a way that sounds compelling.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week the total funding publicized was more than $51 million in venture capital and $30 million in real estate capital.
>>AppZen, which automates expense management for businesses, has closed a $35 million Series B financing.
Lightspeed Venture Partners led the round. Redpoint Ventures also participated. The investment brings the company’s total funding to more than $52 million.
The San Jose, California-based startup is right now focused on the expense auditing and compliance platform is focused on travel and entertainment expenses, including business travel and all operational expenses that employees put through as business expenses related to trips. But it hopes to use this funding to broaden its scope to new products across enterprise expenditure.
The company, founded in 2012, uses computer vision, deep learning, and natural language processing to automatically read and audit expense reports, receipts, invoices, a
