AppZen, a leading Agentic AI platform designed to empower finance teams, has raised $180 million in a Series D funding round. The investment was led by Riverwood Capital, a prominent investment firm focused exclusively on technology growth and scalability.
The funding will accelerate AppZen’s mission to bring autonomous finance to enterprises worldwide. AppZen’s AI-native platform, powered by proprietary ZenLM models and the Mastermind AI Automation Platform, enables finance teams to automate end-to-end workflows across T&E, accounts payable, and corporate card programs. Trusted by over 500 global enterprises, including more than 65 of the Fortune 500, AppZen has delivered over $2 billion in cost savings and allows finance teams to redirect up to two-thirds of their manual workload toward higher-value activities.
The Series D investment supports AppZen in scaling the adoption of agentic AI, transforming standard operating procedures into configurable, production-ready digital coworkers. CFOs and controllers can now replace more than 50% of manual work while scaling operations without adding headcount or relying on BPO services.
“We’re thrilled to welcome Riverwood Capital as a partner in our mission to bring agentic AI to every finance team,” said Anant Kale, Co-founder & CEO at AppZen. “Riverwood’s scale-up expertise and global network will help us accelerate the deployment of Mastermind AI Agents, so finance workflows can run on autopilot. With many of the world’s largest companies already on AppZen, demand for autonomous finance has never been higher. Together with Riverwood Capital, we’ll meet that customer need at scale and realize the full opportunity to reimagine how CFOs run finance.”
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Organizations are under increasing pressure to cut costs, prevent fraud, and ensure compliance across complex global operations. To address these challenges, enterprises are rapidly adopting artificial intelligence. According to Fortune, the global AI market is expected to grow from $290 billion in 2025 to $1.7 trillion by 2032. Gartner predicts that by 2028, 33% of enterprise software applications will embed agentic AI. Finance is at the forefront of this transformation, moving from process automation to autonomous decision-making with AI-driven applications. AppZen’s agentic technology helps finance teams eliminate manual reviews, reduce spend leakage, and maintain regulatory compliance.
“AppZen is at the forefront of a massive shift in how global enterprises leverage AI and automation to drive efficiency and scale their operations,” said Francisco Alvarez-Demalde, Co-Founder and Managing Partner at Riverwood Capital. “We are excited to partner with Anant and his exceptional team, whose vision and execution have made AppZen the category leader in autonomous finance for the enterprise and positioned the company to transform how businesses manage, audit, decide, and run expenses and payables.” Francisco Alvarez-Demalde and Riverwood Capital Partner Alex Porto have joined AppZen’s Board of Directors.
AppZen’s AI models deliver deep semantic understanding in over 40 languages across 60+ countries. Its platform supports multi-entity, multi-currency operations, helping highly regulated enterprises reduce international fraud-related losses while achieving substantial efficiency gains and cost reductions.
“AppZen‘s impact at Airbus was immediate,” said Waqas Aman, Head of Financial Systems North America, Airbus. “It significantly reduced the workload for our T&E analysts, allowing them to focus on more strategic activities. The platform helped us identify ambiguities in our T&E policies and eliminate inconsistent micro-policies throughout the company.”