Buzzing into action...
High interest rates and financial pressures underscore the critical need for finance teams to manage cash flow effectively. Panax, a two-year-old Israeli startup, recently raised $10 million in a Series A funding round led by Team8, with participation from TLV Partners.
Panax is among several startups targeting the CFO stack, aiming to streamline processes for midsize and large companies in traditional industries like manufacturing, logistics, and real estate. Unlike some competitors, Panax focuses on delivering a comprehensive solution tailored to complex treasury management needs.
The startup’s CEO, Noam Mills, emphasizes Panax’s unique approach of using data to provide actionable insights and influence decision-making. This strategy has already gained traction with early adopters such as Oddity, a public beauty-focused company.
With this funding round, Panax plans to scale its go-to-market strategy and enhance its AI capabilities for better cash flow forecasting and optimization. The company’s expansion includes strengthening its presence in New York City while maintaining its core R&D operations in Israel.
Panax’s goal is to offer a one-stop treasury management solution that integrates recommendations and projections, empowering finance teams to make informed decisions efficiently.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
