$15 million was raised by Panax, an AI-driven cash flow management platform provider located in New York City.
Investors
- TLV Partners
- Team8
Use of funds
The business plans to utilize the money to grow its product development team, open an office in New York City, and extend its reach in the United States by scaling up its sales and support personnel.
About Panax
Panax, founded by CEO Noam Mills, CTO Sefi Itzkovich, and CBO Niv Yaar, enables big and mid-market firms to maximize their liquidity via the use of AI-driven automation and analytics, giving them complete visibility and control over their cash operations. The business uses artificial intelligence (AI) to enhance forecasting and add additional features like transaction classification, proactive reporting, and trends analysis, all of which boost operational efficiency. The platform centralizes, automates, and optimizes all treasury analysis and procedures, giving finance teams the knowledge and understanding they need to manage their cash flows and make the best choices possible to turn the finance department into a source of income for the company.
