Announcing our seed funding by Bessemer to automate finance workflows

We aim to help enterprise companies automate their revenue-related finance workflows – across billing, accounts receivables and revenue recognition, and we have raised $5 million in a seed funding round.
November 7, 2022
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Headquartered in New York, we are building a platform for modern businesses to automate their financial operations for complex pricing plans — whether they have usage-based pricing, subscriptions, nuanced discounts, credits, custom currencies, prepaid or ramp deals.

Apurv Bansal, our cofounder and CEO said in an interview — “10% to 15% of SaaS companies today have moved toward a consumption-based pricing model on customers’ demand because of macro tailwinds such as product-led growth, automation and AI. Simple subscriptions will only be about 30% of the market, while complex subscription and consumption-based billing will cover the rest in the next decade, he predicted.”

The market is flooded with similar SaaS billing platforms, but Apurv believes Zenskar allows companies to configure its solution in a no-code, low-code manner, without requiring them to rely on engineers.

“We fundamentally believe that going forward, engineering bandwidth in companies will continue to decline, and software solutions that need to be adopted will need to be adopted by non-technical users,” said Apurv, who formerly worked as a product manager at Google and Indian e-commerce company Snapdeal.

Apurv cofounded Zenskar along with Saurabh Agrawal in March 2022 — after surveying more than 150 customers to understand their challenges related to billing. 

Saurabh said, “Generally, tools are built in a linear fashion. We thought about Zenskar like ground up — try to make the best tool from scratch after talking to so many people.”

Apurv and Saurabh are second-time entrepreneurs who sold their previous startups to Snapdeal and music-streaming app Gaana, respectively.

Our proof of concept is already live with one client, and about 12 customers are on its waitlist. We target the United States as our market, though our small engineering team of two people works remotely from India. Further, we plan on opening a physical office in Bengaluru.

The seed funding round was led by Bessemer Ventures Partners and saw participation from Shine Capital, Basecamp Fund and Converge.

“We are excited to partner with Zenskar on their journey to fundamentally disrupt the quote-to-cash tooling for SaaS companies. We were impressed with their deep understanding of customer pain points, and their DNA of first principles innovation to provide a radically unique and flexible billing software,” said Anant Vidur Puri, partner, Bessemer Venture Partners, in a prepared statement.

We plan to use our funds to expand our team. In the future, we also aim to bring solutions to automate accounting, facilitate payments and provide analytics to companies in sectors such as telecom, transportation, IoT and media.

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