The company said that the latest round of funds will enable it to expand its sales and marketing network and product development operations.
Software as a Service (SaaS) company Panaya has raised $5 million in its second round of fund raising. The present round was led by Pujo Zabludowicz's Tamares Group and investors included Benchmark Capital, who also participated in the first round.
Panaya has now raised a total of $10 million with Gemini Partners having taken part in the first round.
The company said that the latest round of funds will enable it to expand its sales and marketing network and product development operations.
Panaya was founded in 2006 by Yossi Cohen.
Panaya upgrades and maintains ERP and SAP systems.
Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2009
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