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Foley Represents Riverwood Capital as Lead Investor in $180M Funding for AppZen

Foley & Lardner LLP represented Riverwood Capital as lead investor in the $180 million growth funding round for AppZen, the leading agentic AI platform for finance teams.

The Series D fundraise allows AppZen to further accelerate the adoption of agentic AI at the enterprise, converting standard operating procedures into configurable, production-ready, digital coworkers that enable CFOs and controllers to replace over 50% of manual work and scale operations without additional headcount or BPO.

AppZen is the AI-native platform for autonomous finance. Powered by proprietary ZenLM models and the Mastermind AI Automation Platform, AppZen’s domain-trained AI agents streamline end-to-end workflows across travel and expense, accounts payable, and corporate card programs, transforming finance teams.  AppZen processes millions of transactions globally across Fortune 500 corporations and global companies, delivering unprecedented efficiency, accuracy, and compliance for its customers.

Riverwood Capital invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. The firm seeks to invest in established businesses with a proven technology and business model, and the proper fit in terms of culture and values.

The Foley team was led by partners Louis Lehot and André Thiollier and included associates Trevor Mullin and Rachel Horewitz with support from Rishi Sodhi and Jacob Davis (Tax), Casey Knapp and Cullen Werwie (Executive Compensation), Carrie Hoffman (Labor & Employment), Alan Pate and Sarah Waste (Technology Transactions), and Steven Millendorf (Privacy).

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