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Panaya
Company typeSubsidiary
IndustryEnterprise software
Founded2006 (2006) in Ra'anana, Israel
FounderYossi Cohen
Headquarters
Hod Hasharon
,
Israel
Area served
Worldwide
Key people
David Binny (CEO)
ProductsTest Automation
Test Management
Change Impact Analysis
Panaya for Salesforce
ServicesSoftware as a service
Number of employees
240
ParentInfosys
Websitewww.panaya.com

Panaya is a global technology company based in Hod Hasharon, Israel. The company is a subsidiary of Infosys, and has offices in North America, Europe and Japan.[1][2] It is a SaaS (Software as a Service) based company certified by SAP, Oracle and Salesforce.com, offering an all-in-one platform for Smart Testing solutions and Change Intelligence, tailored for Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and cloud-business applications.

Panaya accelerates and de-risks digital landscapes with AI-powered Test Automation, Test Management and Change impact analysis. Panaya's focus on ease of use and an intuitive interface ensures seamless collaboration between business and IT, empowering business users and IT professionals to gain real-time visibility and control over their projects. This capability enables faster releases and continuous delivery of high-quality software.[3]

History

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Panaya was founded in 2006 as ChangeSoft Technologies by entrepreneur Yossi Cohen. It was originally headquartered in Ra'anana, Israel.[4] A first patent on Panaya's technology was published in 2009,[2] followed by a continuation in 2012.[5] In 2010, shares of Tamares Group, a private equity investment firm based in Vaduz, Liechtenstein, were acquired by Panaya as part of fundraising round.[6]

In 2012, CGI Group, a Canadian multinational information technology (IT) consulting company, announced the launching of a new Panaya Practice.[7] In 2013 and 2014, Panaya laid off around 20% of the company.[8][9] In June 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.[10] In February 2015, Infosys announced the acquisition of Panaya for a reported $200 million.[11][12] As part of a few strategic moves to pivot the company, in 2017 Panaya launched Test Dynamix, an end-to-end smart test management platform for ERP and Enterprise Package Applications that enables seamless collaboration between IT and Business teams.[13] In 2019, Panaya expanded its portfolio to support Salesforce market with the launch of the product ForeSight.[14] In June 2019 the company appointment David Binny as CEO.[15] In 2021, Panaya release Change Intelligence Platform, SaaS platform that shows organizations the impact of every upgrade, updates or added feature on their ERP or CRM, Such as of SAP, Oracle E-Business Suite and Salesforce systems.[16] In 2022 the company launched Change Analysis add-on to enhance the Panaya Test Dynamix solution with AI-Powered capability that optimizes testing cycles and mitigate risks. In 2022, Panaya appointed Tal Arnon as new VP of R&D and in 2023 they appointed Stav Grinshpon as the new CPO.

In June 2024, Panaya announced the launch of its latest codeless test automation solution, which solidifies their position as the go-to SaaS platform for Cross-Application Testing and Change Intelligence. This testing solution is the only completely SaaS solution, covering all aspects of the testing process; codeless test automation, comprehensive test management and change impact analysis.

Investors

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Gemini Partners and Benchmark Capital were the first investors to fund Panaya with $5 million in April 2006.[17] In August 2009, Panaya secured $5 million funding in a series B investment round led by Tamares Group with the participation of Benchmark Capital.[18] In June 2010, in a series C round, Battery Ventures, Benchmark and Tamares Group, invested a further $7 million.[19] In September 2010, HPV, the venture capital fund of Hasso Plattner, co-founder of SAP AG,[20] 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.[21] In January 2015, Panaya secured $20 million funding in a series E investment round led by Israel Growth Partners.[22] The company has raised $59 million to date.[23]

Awards and recognition

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  • 2011 : Red Herring Top Global 100 Tech Startup[24]
  • 2013 : Deloitte Technology Fast 50 List[25]
  • 2020 : Ranking within Best HighTech Companies to work for 2020, Duns 100.[26]
  • 2021 : Ranking within Best HighTech Companies to work for 2021, Duns 100.[1][27]
  • 2022 : Ranking within Best HighTech Companies to work for 2022, Duns 100.[28]
  • 2023 : Ranking within Best HighTech Companies to work for 2023, Duns 100.

References

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  1. ^ a b https://www.duns100.co.il/en/Panaya Panaya, Duns 100International 2021, Dun&Bradstreet Israel, 2021
  2. ^ a b US 2009216712, Cohen, Yossi; Cohen, Mati; Dor, Nurit; Weiss, Dror; Armoni, Roy, "Methods for calculating a combined impact analysis repository", published 27 August 2009 
  3. ^ Sommer, Brian (7 January 2010). "Panaya – A different kind of ERP third party maintenance provider". ZDNet. Retrieved 5 December 2014.
  4. ^ "Panaya in Menlo Park". Menlo Park. Retrieved 17 December 2014.
  5. ^ Cohen, Yossi (27 November 2012). "Methods for calculating a combined impact analysis repository". Google Patents. Retrieved 5 December 2021.
  6. ^ "Panaya Portfolio". Tamares. Archived from the original on 11 May 2015. Retrieved 22 December 2014.
  7. ^ "CGI deepens its SAP expertise by launching its Panaya Practice". CGI. 14 May 2012. Retrieved 5 December 2014.
  8. ^ הירשאוגה, אור. "פיטורים בחברת התוכנה Panaya: קיצצה כ-15% מכוח האדם". TheMarker. Retrieved 18 December 2016.
  9. ^ "פאנאיה פיטרה יותר מ-23% מעובדיה – לאחר שהודיעה שתגייס עובדים". כלכליסט – Calcalist. 21 August 2014. Retrieved 18 December 2016.
  10. ^ "Deloitte and Panaya enter Strategic Alliance to accelerate Oracle EBS upgrades and deployments" (Press release). Deloitte. 10 June 2014. Archived from the original on 14 December 2014. Retrieved 5 December 2014.
  11. ^ "Infosys Acquires SaaS Provider Panaya in Deal Valued at $200M". 16 February 2015."Infosys buys Israel's Panaya for $230m – Globes English". Globes. 16 February 2015. Retrieved 18 December 2016.
  12. ^ גולדנברג, רועי (16 February 2015). "Infosys נכנסת לישראל: רוכשת ב-230 מ' ד' את Panaya". Globes. גלובס. Retrieved 16 February 2015.
  13. ^ Panaya Test Dynamix
  14. ^ Panaya ForeSight
  15. ^ "David Binny, Chief Executive Officer, Panaya Inc". Bloomberg.
  16. ^ Change Intelligence Platform
  17. ^ "ERP solutions co Panaya raises $5m". Globes. 31 May 2006. Retrieved 22 December 2014.
  18. ^ "Panaya Secures $5 Million in Series B Funding" (Press release). Reuters. 4 August 2009. Archived from the original on 4 March 2016. Retrieved 22 December 2014.
  19. ^ Shelah, Shmulik (10 June 2010). "Software developer Panaya raises $7m". Globes. Retrieved 22 December 2014.
  20. ^ "Hasso Plattner: Executive Profile & Biography". investing.businessweek.com. Archived from the original on 19 January 2013. Retrieved 28 September 2012.
  21. ^ "SaaS provider Panaya raises $16m". Globes. 8 January 2013. Retrieved 22 December 2014.
  22. ^ ""קרן IGP השקיעה 20 מיליון דולר בפנאייה"". PC Site. 12 January 2015.
  23. ^ "Panaya – Total Funding Raised". StartupHub.
  24. ^ "Red Herring Global Top 100 list 2011". PocketInfo.net. 9 January 2012. Retrieved 5 December 2014.
  25. ^ "Panaya Ranked Number 13 on Deloitte Technology EMEA Fast 500 List". Wn.com. 3 December 2013. Retrieved 5 December 2014.
  26. ^ "Ranking within Best HighTech Companies to work for 2020". duns100.
  27. ^ ""הכנות והיושרה היא ערך מרכזי בפאנאיה"". Calcalist. 27 October 2020.
  28. ^ "Ranking within Best HighTech Companies to work for 2022". duns100.
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