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AppZen IPO

$495.6MM

Series D Valuation, Sep 2025

Artificial Intelligence

Buy And Sell AppZen StockLearn More About AppZen StockAdd To Watchlist

AppZen IPO date and status

2012

Founded

IPO Mentioned

Confidential Filing

S-1 Filed

IPO

Company details

AppZen was founded in 2012 by Anant Kale and Kunal Verma. The company has not publicly endorsed plans to pursue an IPO, but the company is growing rapidly, arriving at a post-money valuation of $500 million in 2019, a significant increase from the previous year when AppZen was valued at $175 million. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

AppZen develops AI-powered tools specifically targeted at finance departments. The company's most popular product is an expense auditing program that automatically flags employee expenses that may not be compliant with company policy. AppZen has an impressive list of customers that includes Amazon, Boeing, ADM, Airbus, Verizon, Nvidia, Salesforce, and others. The company states that they are "trusted by a third of the Fortune 500." In 2019, the company raised $50 million in a funding round led by Coatue Management. Other investors include Redpoint Ventures and Lightspeed Venture Partners. This round raised the company's total funding to just over $100 million.

appzen.com

Sector

Fintech

Subsector

Fintech Software

Founded

2012

Headquarters

San Jose, CA, United States

Forge Price ¹

Price not yet available

Market Activity ²

Limited

Last Matched Price

Get Full Access

Post-Money Valuation ³

$495.6MM

Total Funding

$239.68MM

Last Funding Round

Series D

Learn more about AppZen

To invest in AppZen pre-IPO

Can you invest in AppZen pre-IPO?

AppZen is privately held and not traded on public markets, so pre-IPO investments are available only to accredited investors.

If you’re already accredited and have completed Forge’s verification, you can visit our marketplace to review and invest in private companies ahead of an IPO.

If you haven’t yet completed your accredited investor verification with Forge, you can start that process now to unlock access to new private-company offerings.

For more on who qualifies—and how to get verified—see our blog “Accredited investors, qualified clients and qualified purchasers: Who can invest?”

Can you sell shares of AppZen before it goes public?

Yes, subject to any contractual or corporate transfer restrictions, it is possible to list your shares to sell while AppZen is still private. If you’re considering selling, you can register today for free to get started. Once registered, you can evaluate pricing insights and market activity to inform your decision, then post your shares for sale and set the terms, like quantity and price—all directly through our platform.

If you’d like additional guidance at any point, Forge private market specialists are available to help. For a step-by-step overview, check out our seller’s guide.

What is the pre-IPO value of my AppZen shares?

To explore the value of your AppZen shares, create a free account to access Forge’s marketplace. Once inside, you’ll find several pricing insights to help guide your decision—these include historical transaction data, a live order book showing current buy and sell interest, and Forge Price™, a derived, indicative price based on recent transactions, investor activity, and other relevant market data.

These insights can help you determine a price you’re comfortable with if you choose to sell your shares. If you’d like additional guidance along the way, Forge private market specialists are available to help. You can also review our seller’s guide for a step-by-step overview.

Is AppZen a publicly traded company?

AppZen is a private company and not publicly traded.

If you’re interested in buying or selling shares in private companies, you can register with Forge today for free to explore available opportunities. Once registered, you’ll gain access to our marketplace, where you can view active buy and sell interest, evaluate pricing signals and take action directly through the platform.

To learn more about AppZen potential IPO

Will AppZen go IPO?

AppZen has not yet filed for an IPO. However, it’s important to note that IPOs are not the sole avenue for a private company to transition to public trading. Private companies can also go public through alternative methods such as but limited to Special Purpose Acquisition Companies (SPACs), direct listings, or mergers and acquisitions. Find out which companies are eyeing an IPO on our Tech IPO Calendar 2025.

What is AppZen’s IPO price?

The AppZen IPO price does not exist at this time, as AppZen is still a private company and has not yet conducted an IPO. To explore secondary market data and access private market pricing details and data that may be related to AppZen, register for Forge today.

When was AppZen founded?

AppZen was founded in 2012.

What is AppZen funding to date?

AppZen has raised $239.68MM to date.

AppZen major investors

500 Global

Azoic Ventures

Bloomberg Beta

Coatue Management

Evolution Vc Partners

Fundersclub

Geodesic Capital

Hard Yaka

Kbw Ventures

Lightspeed Venture Partners

Mastercard

Redpoint Ventures

Resolute Ventures

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AppZen pre-IPO valuation and funding rounds

Funding history chart

Funding round and deals details

	Funding Date	Round	Amount Raised	Price per Share	Post-Money Valuation ³	Key Investors
	09/22/2025	Series D	$180MM	$2.78	$495.6MM	Riverwood Capital
Price per Share $ xx.xx Shares Outstanding 64,820,476 Liquidation Pref Order 1 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Riverwood Capital
	09/11/2019	Series C	$27.27MM	$2.52	$406.25MM	Coatue Management, Lightspeed Venture Partners, Redpoint Ventures
Price per Share $ xx.xx Shares Outstanding 10,811,623 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Coatue Management, Lightspeed Venture Partners, Redpoint Ventures
	09/30/2018	Series B	$21.88MM	$1.24	$181.52MM	Lightspeed Venture Partners, Redpoint Ventures, Resolute Ventures
Price per Share $ xx.xx Shares Outstanding 17,679,531 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Lightspeed Venture Partners, Redpoint Ventures, Resolute Ventures
	11/01/2017	Series A	$7.33MM	$0.49	$57.99MM	Redpoint Ventures, Resolute Ventures
Price per Share $ xx.xx Shares Outstanding 15,094,754 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Redpoint Ventures, Resolute Ventures
	01/06/2017	Series Seed Plus	$1.14MM	$0.26	$21.44MM	Undisclosed Investors
Price per Share $ xx.xx Shares Outstanding 4,468,442 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Undisclosed Investors
	06/22/2016	Series Seed	$1.36MM	$0.13	$10.98MM	Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank
Price per Share $ xx.xx Shares Outstanding 10,805,516 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank
	06/22/2016	Series Seed-2	$669,431.00	$0.11	$10.98MM	Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank
Price per Share $ xx.xx Shares Outstanding 6,262,217 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank
	06/22/2016	Series Seed-1	$35,317.23	$0.04	$10.98MM	Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank
Price per Share $ xx.xx Shares Outstanding 992,057 Liquidation Pref Order 2 Liquidation Pref As Multiplier 1.0x Conversion Ratio 1.0x Dividend Rate 8.0% Cumulative Non-cumulative Participating Non-participating Participation Cap -- Key Investors Bloomberg Beta, Mastercard, Resolute Ventures, Silicon Valley Bank

AppZen IPO news and media highlights

SiliconANGLE 09/22/2025

AppZen raises $180M to automate enterprise finance operations

California-based AppZen Inc., a leading agentic artificial intelligence platform for finance teams, today announced it raised $180 million in a Series D growth funding round led by Riverwood Capital to scale up the company’s autonomous finance software.

Tech Times 08/09/2022

Top 5 Best Financial Audit Software in 2022

Regardless if it's necessary or not, auditing remains a crucial aspect for every firm, especially those that run under strict laws and adhere to the highest standards. To meet these demands, you will require the assistance of our top 5 best audit management software.

Business Travel News Europe 05/13/2022

Amadeus launches 'smart audit' tool with AppZen

Amadeus is partnering with AI-powered auditing technology provider AppZen to integrate with its Cytric booking and expense platform for a "Smart Audit" tool, the companies announced.

Browse More Insights

Private companies exploring an IPO

See which private companies are preparing for the public market. Register to get full access to the latest secondary market pricing data.

Sector: Fintech

Subsector: Fintech Software

Trade Metrics				Last Funding Round
Company		Forge Price	Last Matched	Round	Post-Money Valuation ³	Price Per Share	Amount Raised
	Kraken	$36.52 -$1.91 (4.97%)	$ xx.xx	Series D	$20B	$61.47	$200MM
	Uphold	$2.40 +$0.80 (50.00%)	$ xx.xx	Not available	--	--	--
	DriveWealth	Not available	$ xx.xx	Series D-1	$2.85B	$25.18	$449.89MM
	Chia	Not available	$ xx.xx	Series D	$458.07MM	$21.21	$61MM
	Razorpay	Not available	$ xx.xx	Not available	--	--	--
	Blockchain.com	Not available	$ xx.xx	Not available	--	--	--
	Lendbuzz	Not available	$ xx.xx	Series D-1A	$1.07B	$16.65	$1.53MM

See Tech IPO Calendar

Private market movers

Track trading activity and investor momentum across thousands of private companies. Register to view last matched prices and additional transactional details.

Actively traded

Company	Forge Price	Market Activity	Last Matched
Anthropic	$259.14 -$13.84 (5.07%)	High	$xxx.xx
OpenAI	$723.12 +$0.12 (0.02%)	High	$xxx.xx
SpaceX	$597.17 +$10.33 (1.76%)	High	$xxx.xx
Anduril	$106.97 -$0.62 (0.58%)	High	$xxx.xx
Databricks	$197.65 -$0.01 (0.01%)	High	$xxx.xx

See All Actively Traded Companies

Artificial Intelligence (AI)

Company	Forge Price	Market Activity	Last Matched
Anthropic	$259.14 -$13.84 (5.07%)	High	$xxx.xx
OpenAI	$723.12 +$0.12 (0.02%)	High	$xxx.xx
Anduril	$106.97 -$0.62 (0.58%)	High	$xxx.xx
Databricks	$197.65 -$0.01 (0.01%)	High	$xxx.xx
Perplexity	$69.54 +$6.59 (10.47%)	High	$xxx.xx

See All AI Companies

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Updated on: Sep 24, 2025

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