Hasso Plattner, co-founder of Germany-based software provider SAP, through his eponymous family office has invested in Panaya’s, which develops software as a service for automating SAP upgrades, $16m series D round.
In September 2010, Hasso Plattner Ventures invested in Panaya’s $6m round alongside venture capital firms Benchmark Capital and Battery Ventures, which agreed to acquire financial investor Tamares Group’s stake in the company.
Yossi Cohen, Panaya’s founder and chief executive, said: “Despite the very strong interest of additional parties to invest in Panaya, we were very happy for the strong endorsement and validation signified by the fact that this round of funding was limited to our existing and satisfied group of investors.”