Tuesday, August 4, 2009

Panaya Raises $5M

Menlo Park-based Panaya, which develops software-as-a-service for automating SAP upgrades, reported Tuesday that it has raised $5M in a Series B funding round. The round was led by Tamares, and also included Benchmark Capital. Panaya said the funding will go to expand sales, marketing, and product development. Panaya had raised $5.0M from Benchmark in 2006. The firm also has offices in Israel, where the firm was founded. More information »