AppZen, a leading Agentic AI platform for finance teams, has raised $180 million in growth funding, led by Riverwood Capital, a tech-focused investment firm. The Series D round will accelerate the adoption of AI-powered finance automation, enabling enterprises to convert manual workflows into autonomous digital coworkers.
The platform leverages proprietary ZenLM models and the Mastermind AI Automation Platform to streamline processes across travel and expense (T&E), accounts payable, and corporate card programs. AppZen currently serves over 500 global enterprises, including 65+ of the Fortune 500, delivering more than $2 billion in cost savings and freeing finance teams to focus on higher-value tasks.
Scaling Autonomous Finance
“With many of the world’s largest companies already on AppZen, demand for autonomous finance has never been higher,” said Anant Kale, CEO and Co-Founder. “Together with Riverwood Capital, we’ll meet that customer need at scale and reimagine how CFOs run finance.”
The funding will support expanding Mastermind AI Agents, which allow organizations to automate over 50% of manual finance work, scale operations without adding headcount, and enhance compliance and fraud prevention.
Meeting Enterprise Pressure with AI
Finance teams face increasing pressure to cut costs, detect fraud, and ensure compliance across complex global operations. AppZen’s agentic AI addresses these challenges by automating review workflows, reducing spend leakage, and delivering regulatory compliance. Its platform supports operations across 40+ languages and 60+ countries, including multi-entity and multi-currency environments.
Francisco Alvarez-Demalde, Co-Founder and Managing Partner at Riverwood Capital, said, “We are excited to partner with Anant and his exceptional team, whose vision has made AppZen the category leader in autonomous finance.” Both Alvarez-Demalde and Riverwood Partner Alex Porto have joined AppZen’s Board of Directors.
Real-World Impact
Companies like Airbus report immediate benefits. Waqas Aman, Head of Financial Systems North America at Airbus, noted that AppZen reduced the T&E workload for analysts, helped identify ambiguous policies, and eliminated inconsistent micro-policies.
The newly launched Mastermind AI Studio allows teams to convert standard operating procedures into AI Agents without coding or IT resources, creating digital workers that accelerate processing, reduce headcount costs, and enhance compliance.
The Bigger Picture
Enterprise adoption of agentic AI is on the rise. The global AI market is projected to grow from $290 billion in 2025 to $1.7 trillion by 2032, while Gartner predicts that 33% of enterprise software applications will embed agentic AI by 2028. AppZen’s platform positions finance teams to lead this transformation, moving from process automation to autonomous decision-making at scale.
With this funding, AppZen is poised to expand its footprint, enabling more finance organizations to run operations on autopilot, maximize efficiency, and unlock measurable cost savings.
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