Panaya

About Panaya

Founded in 2006 by entrepreneur Yossi Cohen as ChangeSoft Technologies, Panaya operates as a subsidiary of Infosys, an Indian multinational technology company. The company is headquartered in Hod Hasharon, Israel, with a global presence across North America, Europe, and Japan. Panaya secured its initial funding of $5 million in April 2006 from Gemini Partners and Benchmark Capital. Over the years, it raised a total of $59 million through multiple funding rounds, culminating in a $20 million Series E round in January 2015. In a significant milestone, Infosys acquired Panaya in February 2015 for approximately $200 million.

Panaya provides a Software-as-a-Service (SaaS) platform focused on Change Intelligence and Smart Testing for enterprise resource planning (ERP) and customer relationship management (CRM) systems. The company's business model is centered on offering cloud-based solutions that help organizations de-risk and accelerate changes to their core business applications, such as SAP, Oracle, and Salesforce. Revenue is generated through subscriptions to its platform, which caters to a wide range of clients, including a third of the Fortune 500 companies across 62 countries.

The core of Panaya's offering is its Change Intelligence Platform, which combines impact analysis, test management, and test automation. This platform provides clients with visibility into the potential impact of any updates or modifications to their systems, identifying what might break and what needs to be tested. Key products include Test Dynamix, an end-to-end test management solution, and ForeSight, designed for the Salesforce ecosystem. The platform utilizes AI-powered capabilities to optimize testing cycles, streamline processes, and facilitate collaboration between IT and business teams. A unique selling point is the codeless test automation feature, which allows users without technical coding skills to automate testing, thereby reducing bottlenecks and speeding up release cycles.