Israeli startup Panax raises a $10M Series A for its AI-driven cash flow management platform | TechCrunch
May 08, 2024 - techcrunch.com
Israeli startup Panax has raised $10 million in a Series A funding round led by Team8 and TLV Partners, bringing its total funding to $15.5 million. The company, which targets midsize and large companies in traditional industries, offers a treasury management dashboard that integrates recommendations and projections. The new funding will be used to scale its go-to-market approach and build a more robust AI and data team.
Panax's AI helps the startup make sense of financial data, identify insights, and forecast cash flow. The company aims to be a one-stop solution for finance teams, allowing them to execute decisions without having to go elsewhere. The company also plans to expand its New York office, while keeping its R&D in Israel.
Key takeaways:
Israeli startup Panax has raised a $10 million Series A funding round led by Team8 and TLV Partners, bringing its total funding to $15.5 million.
Panax offers a treasury management dashboard for midsize and large companies in traditional industries, using AI to provide insights and forecast cash flow.
The company plans to use the new funding to scale its go-to-market approach and build a more robust AI and data team.
Panax will expand its NYC office following its Series A round, but its R&D will remain in Israel.
