- Founded: 2020
- Ceased Operations: 2023
What did Panther do?
Panther was a contractor management tool designed to help businesses build remote teams. It took care of global payroll, benefits, taxes, compliance, and more for remote workers. Panther’s platform was designed to make it easy for businesses to manage their remote workforce. The platform provided a single place to manage all aspects of contractor management. Panther also offered a variety of features to help businesses comply with labor laws in the countries where their contractors worked.
Panther raised a total of $2.5 million in funding over two rounds. The most recent funding was raised in May 2021 from a Seed round. The investors in this round were Adapt Ventures, Predictive VC, Edward Lando, and Eric Ries.
Who started Panther?
Founder & CEO Matt Redler
Why did they go out of business?
Panther’s founder, Matt Redler, had been in the process of closing a $20 million Series A funding round when one of the investors pulled out. This put Panther in a difficult financial position, and Redler ultimately decided to shut it down rather than try to raise more money.
Redler said that the timing of the investor’s withdrawal was unfortunate, as it came at a time when the company was gaining traction. Panther had already attracted the attention of Silicon Valley executives, and it was well-positioned to capitalize on the growing demand for cloud-based security solutions. However, the loss of the investor’s funding made it impossible for the company to continue.