AI-powered finance concierge Zeni has raised a $34 million Series B funding round led by Elevation Capital with participation from new investors Think Investments and Neeraj Arora. Existing investors Saama Capital, Amit Singhal, Sierra Ventures, Twin Ventures, Dragon Capital and Liquid 2 Ventures also participated in the round. The funds will be allotted to hiring in the U.S. and India across product, technology, marketing, sales, and finance operations.
Zeni has seen a surge in interest during the pandemic as workplace conditions over the past year forced businesses to accelerate adoption and deployment of digital solutions across the enterprise.
“Startups and small businesses are fundamentally changing how they operate based on digital-first tools and services that are displacing the traditional, slow and human-intensive services across every category,” said Swapnil Shinde, co-founder and CEO, Zeni. “There is a huge demand from startups to digitize and automate their business finances, leading Zeni to experience 550 per cent revenue growth and 375 per cent customer growth year-over-year. Zeni is tackling the root of startup risk—financial management—by applying artificial intelligence, machine learning, and robotic process automation to create a fast, streamlined, intuitive way for startups to manage their finances.”
Zeni provides real-time insights and flux analysis of a company’s key financial metrics via its AI-powered Zeni Dashboard, including cash in and cash out analysis, universal search of transactions across a startup’s entire finance stack and spend and income trends for every customer and vendor in their ecosystem, and more.
“Our focus at Zeni is to make finance management as seamless as possible for our customers, which carries over to the minimalist, intuitive product experience within the Zeni Dashboard,” said Snehal Shinde, co-founder and CPO for Zeni. “Every feature we introduce has an explicit purpose based on our customers’ needs, and is meticulously crafted to allow startup founders to find the answers to their questions in the most direct, actionable way possible.”