Expense reporting startup AppZen raises $2.9 million

Artificial intelligence (AI) enterprise company AppZen closed a $2.9 million seed round today.
AppZen uses machine learning algorithms and natural language processing to automate and analyze expense reports for fraud. The company plans to extend into other back-office functions like accounting in the future, according to spokesperson Michelle O’Rourke.
An Association of Certified Fraud Examiners survey of 2,400 companies found that more than $6 billion is lost to expense fraud every y