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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.
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