Aavenir, a SaaS-based source to play solutions provider, has now revealed that it has secured $2 million in the funding round of seed from the global venture capital firm Accel.
The Ahmedabad and San Francisco based company plans to use the funds to accelerate the development of its products in the source to pay domain and expand the global reach by strengthening sales and marketing operations.
Prayank Swaroop, Partner at Accel, said,
“There has been a noticeable increase in enterprises’ appetite for automating the entire source-to-pay process in recent years. With the clever use of ServiceNow platform and the team’s deep domain expertise, Aavenir has positioned itself as a thought leader in the source-to-pay space. We’re excited to be joining Aavenir on its mission of delivering the future of work.”
Jesal Mehta, Aavenir’s CEO, added,
“Machine learning, NLP, and interactive chatbots are offering tremendous opportunities to automate and simplify the complex source-to-pay process significantly. Also, the partnership with ServiceNow allows us to be in front of their customers who are always looking to capitalize on their existing ServiceNow investments and automate more of their business processes using the NOW platform.”