Aavenir, a SaaS-based source-to-pay solutions provider, announced it has raised $2 million in a seed funding round from venture capital firm Accel.
The company will use funds to accelerate product development and expand global reach by strengthening its sales and marketing operations.
“Machine learning, NLP, and interactive chatbots are offering tremendous opportunities to automate and simplify the complex source-to-pay process significantly,” Jesal Mehta, CEO of Aavenir, said.
“The partnership with ServiceNow allows us to be in front of their customers who are always looking to capitalise on their existing ServiceNow investments and automate more of their business processes using the NOW platform,” he said.
The company offers integrated products including Contractflow for contract lifecycle management, RFPflow for sourcing management and Invoiceflow for accounts payable automation to enable sourcing, procurement and contracting processes.
Aavenir was founded in 2019 by experts having more than 25 years of experience in the S2P industry. Aavenir is a start-up that’s growing fast and headquartered in the USA with an office in India.
