Panaya: Difference between revisions
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{{Infobox company |
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| name = Panaya |
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| logo = File:Panaya logo.png |
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| logo_size = 250 |
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| logo_caption = Panaya logo |
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| type = [[Privately held company]] |
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| industry = [[enterprise resource planning|ERP software]] |
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| foundation = {{start date|2006}} in Menlo Park, California |
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| founder = Yossi Cohen |
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| location_city = [[Menlo Park, California]] |
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| location_country = [[United States]] |
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| area_served = Worldwide |
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| key_people = Doron Gerstel (CEO)<br>Mati Cohen (CTO) |
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| products = The Panaya CloudQuality Suite |
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| services = [[Software as a service]] |
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| revenue = |
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| operating_income = |
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| net_income = |
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| assets = |
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| equity = |
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| members = |
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| num_employees = |
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| parent = [[Infosys]] |
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| divisions = |
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| subsid = |
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| website = {{URL|panaya.com}} |
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}} |
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'''Panaya''' is an Israeli [[software as a service]] (SaaS) company that provides [[cloud computing|cloud-based]] [[quality management]] services for enterprise applications worldwide.<ref>{{cite web | url=http://www.reuters.com/article/2010/06/03/urnidgns852573c4006938800025773700628cd-idUS388507000520100603 | title=When Vendor Research Collides: Whom to Believe? | publisher=[[Reuters]] | date=3 June 2010 | accessdate=22 December 2014}}</ref> Its solutions include [[Change impact analysis]], automated code remediation, collaborative test management and test-execution, and ALM acceleration. The company’s solutions enable companies to save their information technology applications life cycle costs and minimize the risks associated with system changes. Panaya’s service runs on the [[Amazon Elastic Compute Cloud]].<ref name="ZDNet">{{cite web | url=http://www.zdnet.com/article/panaya-a-different-kind-of-erp-third-party-maintenance-provider/ | title=Panaya – A different kind of ERP third party maintenance provider | publisher=ZDNet | date=7 January 2010 | accessdate=5 December 2014 | author=Sommer, Brian}}</ref> |
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==History== |
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Panaya was originally founded in 2006 as ''ChangeSoft Technologies'' by entrepreneur Yossi Cohen and is headquartered in [[Ra'anana, Israel]].<ref>{{cite web | url=http://www.menlopark.com/directory-listing/Panaya/331527 | title=Panaya in Menlo Park | publisher=Menlo Park | accessdate=17 December 2014}}</ref> |
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The disruptive technology revolves around the impact analyses of code change, applied in code comparison of [[Enterprise resource planning]] (ERP) systems to help reduce the application life cycle cost.<ref>{{ cite patent | country =US | number =2009216712 | status = | title =Methods for calculating a combined impact analysis repository | pubdate =27 August 2009 | gdate = | fdate = | pridate = | inventor =Cohen, Yossi; Cohen, Mati; Dor, Nurit; Weiss, Dror; Armoni, Roy | assign1 = | assign2 = | class = }}</ref> A first patent application was filed in 2008, followed by an extension in 2009,<ref>{{cite web | url=http://www.freshpatents.com/-dt20090827ptan20090216712.php | title=Methods for calculating a combined impact analysis repository | publisher=Fresh Patents | accessdate=22 December 2014}}</ref> and a continuation in 2013.<ref>{{cite web | url=http://www.freshpatents.com/-dt20130214ptan20130041886.php | title=Methods for calculating a combined impact analysis repository | publisher=Fresh Patents | date=14 February 2013 | accessdate=22 December 2014}}</ref> |
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In 2010, shares of [[Tamares Group]], a [[private equity]] investment firm based in [[Vaduz]], [[Liechtenstein]], were acquired by Panaya as part of fundraising round.<ref>{{cite web | url=http://www.tamares.com/portfolio/selected-investments-private/panaya | title=Panaya Portfolio | publisher=Tamares | accessdate=22 December 2014}}</ref> |
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In 2012, [[CGI Group]], a Canadian [[multinational corporation|multinational]] [[information technology]] (IT) consulting company, announced the launching of a new Panaya Practice.<ref>{{cite web | url=http://www.cgi.com/en/cgi-sap-expertise-panaya-practice | title=CGI deepens its SAP expertise by launching its Panaya Practice | publisher=CGI | date=14 May 2012 | accessdate=5 December 2014}}</ref> |
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In June of 2014, [[Deloitte]] and Panaya announced an agreement to provide [[Oracle Applications|Oracle E-business Suite]] customers the ability to reduce the cost and risk of application change projects.<ref>{{cite press release | url=http://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/oracle-ebs-upgrades.html | title=Deloitte and Panaya enter Strategic Alliance to accelerate Oracle EBS upgrades and deployments | publisher=Deloitte | date=10 June 2014 | accessdate=5 December 2014}}</ref> |
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In February of 2015, Infosys announced acquisition of Panaya for a reported $200 million.<ref>http://techcrunch.com/2015/02/15/infosys-panaya/</ref> |
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==Investors== |
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Gemini Partners and Benchmark Capital were the first investors to fund Panaya with $5 million in April 2006.<ref>{{cite web | url=http://www.globes.co.il/en/article-1000097742 | title=ERP solutions co Panaya raises $5m | publisher=Globes | date=31 May 2006 | accessdate=22 December 2014}}</ref> |
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In August 2009, Panaya secured $5 million funding in a series B investment round led by Tamares Group with the participation of Benchmark Capital.<ref>{{cite press release | url=http://www.reuters.com/article/2009/08/04/idUS136999+04-Aug-2009+BW20090804 | title=Panaya Secures $5 Million in Series B Funding | publisher=Reuters | date=4 August 2009 | accessdate=22 December 2014}}</ref> |
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In June 2010, in a series C round, [[Battery Ventures]], [[Benchmark (venture capital firm)|Benchmark]] and [[Tamares Group]], invested a further $7 million.<ref>{{cite web | url=http://www.globes.co.il/en/article-1000566121 | title=Software developer Panaya raises $7m | publisher=Globes | date=10 June 2010 | accessdate=22 December 2014 | author=Shelah, Shmulik}}</ref> In September 2010, HPV, the venture capital fund of [[Hasso Plattner]], co-founder of [[SAP AG]],<ref name="businessweek">{{cite web|url=http://investing.businessweek.com/research/stocks/people/person.asp?personId=225290&ticker=SAP|title=Hasso Plattner: Executive Profile & Biography|work=investing.businessweek.com|accessdate=28 September 2012}}</ref> invested $6 million in exchange for company's stakes. Shares held by the Tamares Group, a private equity investment firm based in [[Vaduz]], Liechtenstein, were acquired by HPV together with existing investors Benchmark Capital and Battery ventures. |
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In 2013 the existing investors, in a series D funding round led by Battery Ventures and joined by Benchmark Capital and HPV, injected an additional $16 million into Panaya.<ref>{{cite web | url=http://www.globes.co.il/en/article-1000812822 | title=SaaS provider Panaya raises $16m | publisher=Globes | date=8 January 2013 | accessdate=22 December 2014}}</ref> The company has raised $39 million to date. |
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==Awards and recognition== |
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* 2013 Deloitte Technology Fast 50 List<ref>{{cite web | url=http://article.wn.com/view/2013/12/03/Panaya_Ranked_Number_13_on_Deloitte_Technology_EMEA_Fast_500_8/ | title=Panaya Ranked Number 13 on Deloitte Technology EMEA Fast 500 List | publisher=Wn.com | date=3 December 2013 | accessdate=5 December 2014}}</ref> |
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* 2011 Red Herring Top Global 100 Tech Startup<ref>{{cite web | url=http://www.pocketinfo.net/2012/01/red-herring-global-top-100-list-2011.html | title=Red Herring Global Top 100 list 2011 | publisher=PocketInfo.net | date=9 January 2012 | accessdate=5 December 2014}}</ref> |
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* 2010 Gartner Cool Vendors in the SAP Ecosystem<ref>{{cite web | url=https://www.gartner.com/doc/1332119/cool-vendors-sap-ecosystem- | title=Cool Vendors in the SAP Ecosystem, 2010 | publisher=Gartner | date=31 March 2010 | accessdate=5 December 2014}}</ref> |
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==See also== |
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* [[List of ERP software packages]] |
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==References== |
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{{reflist|2}} |
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==External links== |
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* {{Official website|http://www.panaya.com}} |
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* {{Facebook|mypanaya}} |
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[[Category:Software companies based in California]] |
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[[Category:2006 establishments in California]] |
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Revision as of 05:25, 10 June 2015
 | This article contains content that is written like an advertisement. (May 2015) |
| File:Panaya logo.png Panaya logo | |
| Company type | Privately held company |
|---|---|
| Industry | ERP software |
| Founded | 2006 in Menlo Park, California |
| Founder | Yossi Cohen |
| Headquarters | , |
Area served | Worldwide |
Key people | Doron Gerstel (CEO) Mati Cohen (CTO) |
| Products | The Panaya CloudQuality Suite |
| Services | Software as a service |
| Parent | Infosys |
| Website | panaya |
Panaya is an Israeli software as a service (SaaS) company that provides cloud-based quality management services for enterprise applications worldwide.[1] Its solutions include Change impact analysis, automated code remediation, collaborative test management and test-execution, and ALM acceleration. The company’s solutions enable companies to save their information technology applications life cycle costs and minimize the risks associated with system changes. Panaya’s service runs on the Amazon Elastic Compute Cloud.[2]
History
Panaya was originally founded in 2006 as ChangeSoft Technologies by entrepreneur Yossi Cohen and is headquartered in Ra'anana, Israel.[3]
The disruptive technology revolves around the impact analyses of code change, applied in code comparison of Enterprise resource planning (ERP) systems to help reduce the application life cycle cost.[4] A first patent application was filed in 2008, followed by an extension in 2009,[5] and a continuation in 2013.[6]
In 2010, shares of Tamares Group, a private equity investment firm based in Vaduz, Liechtenstein, were acquired by Panaya as part of fundraising round.[7]
In 2012, CGI Group, a Canadian multinational information technology (IT) consulting company, announced the launching of a new Panaya Practice.[8]
In June of 2014, Deloitte and Panaya announced an agreement to provide Oracle E-business Suite customers the ability to reduce the cost and risk of application change projects.[9]
In February of 2015, Infosys announced acquisition of Panaya for a reported $200 million.[10]
Investors
Gemini Partners and Benchmark Capital were the first investors to fund Panaya with $5 million in April 2006.[11]
In August 2009, Panaya secured $5 million funding in a series B investment round led by Tamares Group with the participation of Benchmark Capital.[12]
In June 2010, in a series C round, Battery Ventures, Benchmark and Tamares Group, invested a further $7 million.[13] In September 2010, HPV, the venture capital fund of Hasso Plattner, co-founder of SAP AG,[14] invested $6 million in exchange for company's stakes. Shares held by the Tamares Group, a private equity investment firm based in Vaduz, Liechtenstein, were acquired by HPV together with existing investors Benchmark Capital and Battery ventures.
In 2013 the existing investors, in a series D funding round led by Battery Ventures and joined by Benchmark Capital and HPV, injected an additional $16 million into Panaya.[15] The company has raised $39 million to date.
Awards and recognition
- 2013 Deloitte Technology Fast 50 List[16]
- 2011 Red Herring Top Global 100 Tech Startup[17]
- 2010 Gartner Cool Vendors in the SAP Ecosystem[18]
See also
References
- ^ "When Vendor Research Collides: Whom to Believe?". Reuters. 3 June 2010. Retrieved 22 December 2014.
- ^ Sommer, Brian (7 January 2010). "Panaya – A different kind of ERP third party maintenance provider". ZDNet. Retrieved 5 December 2014.
- ^ "Panaya in Menlo Park". Menlo Park. Retrieved 17 December 2014.
- ^ US 2009216712, Cohen, Yossi; Cohen, Mati; Dor, Nurit; Weiss, Dror; Armoni, Roy, "Methods for calculating a combined impact analysis repository", published 27 August 2009
- ^ "Methods for calculating a combined impact analysis repository". Fresh Patents. Retrieved 22 December 2014.
- ^ "Methods for calculating a combined impact analysis repository". Fresh Patents. 14 February 2013. Retrieved 22 December 2014.
- ^ "Panaya Portfolio". Tamares. Retrieved 22 December 2014.
- ^ "CGI deepens its SAP expertise by launching its Panaya Practice". CGI. 14 May 2012. Retrieved 5 December 2014.
- ^ "Deloitte and Panaya enter Strategic Alliance to accelerate Oracle EBS upgrades and deployments" (Press release). Deloitte. 10 June 2014. Retrieved 5 December 2014.
- ^ http://techcrunch.com/2015/02/15/infosys-panaya/
- ^ "ERP solutions co Panaya raises $5m". Globes. 31 May 2006. Retrieved 22 December 2014.
- ^ "Panaya Secures $5 Million in Series B Funding" (Press release). Reuters. 4 August 2009. Retrieved 22 December 2014.
- ^ Shelah, Shmulik (10 June 2010). "Software developer Panaya raises $7m". Globes. Retrieved 22 December 2014.
- ^ "Hasso Plattner: Executive Profile & Biography". investing.businessweek.com. Retrieved 28 September 2012.
- ^ "SaaS provider Panaya raises $16m". Globes. 8 January 2013. Retrieved 22 December 2014.
- ^ "Panaya Ranked Number 13 on Deloitte Technology EMEA Fast 500 List". Wn.com. 3 December 2013. Retrieved 5 December 2014.
- ^ "Red Herring Global Top 100 list 2011". PocketInfo.net. 9 January 2012. Retrieved 5 December 2014.
- ^ "Cool Vendors in the SAP Ecosystem, 2010". Gartner. 31 March 2010. Retrieved 5 December 2014.