Panax, a NYC-based provider of an AI-driven cash flow management platform, raised $15M in funding.
Backers included Team8 and TLV Partners.
The company intends to use the funds to further scale sales and support teams, expand its U.S. presence with a New York City office, and increase its product development resources.
Founded by Noam Mills, CEO, Sefi Itzkovich, CTO, and Niv Yaar, CBO, Panax empowers mid-market and large companies to gain full visibility and control over their cash operations and to optimize their liquidity by leveraging AI-driven automation and insights. In addition to improving forecasting, the company utilizes AI to add other capabilities including transaction categorization, proactive reporting and trends analysis, all leading to increased operational efficiency. The platform centralizes, automates, and streamlines all treasury analysis and processes, enabling finance teams to get information and insights to control their cash flows and make optimal decisions to transform the finance function into a revenue generator for the organization.
FinSMEs
08/05/2024