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 is a private company and not publicly traded.
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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 through mergers and acquisitions. Find out which companies are eyeing an IPO on our Tech IPO Calendar 2024.
AppZen is privately held company and is not publicly traded, therefor investing in AppZen pre-IPO is only available to accredited investors. If you meet the accreditation criteria, you can register for Forge’s Secondary Marketplace to invest in private companies before their potential IPO. If you are not an accredited investor, discover how to begin the the process to potentially qualify for new investment opportunities.
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Yes, you can seek to sell shares in AppZen while it remains private. If you are considering selling, you can register today for free to get started. Once registered, a Private Market Specialist will guide you through any questions you might have. You may also continue to browse through our resources to help you understand the implications and procedures involved in selling your private market shares.
Date | Funding Round | Funding Raised | Price per Share | Last Known Valuation |
---|---|---|---|---|
9/11/2019 | Series C |
$50MM raised | $XXX.XX | $XXX.XX |
9/30/2018 | Series B |
$35MM raised | $XXX.XX | $XXX.XX |
11/1/2017 | Series A |
$12.7MM raised | $XXX.XX | $XXX.XX |
1/6/2017 | Series Seed Plus |
$1.89MM raised | $XXX.XX | $XXX.XX |
6/22/2016 | Series Seed, Seed-1 and Seed-2 |
$2.9MM raised | $XXX.XX | $XXX.XX |