Last Pax8 valuation
$1.7B
Undisclosed stage · Apr 2022
Last Pax8 funding round
$185M
Undisclosed stage · Apr 2022
Cumulative funding Pax8 raised
$342M
across 6 funding rounds
Key investors in Pax8
Catalyst Investors
Blue Cloud Ventures
Liberty Global Ventures
Sageview Capital
SoftBank Group
Avenir
About Pax8
Pax8 is a Greenwood Village-headquartered cloud commerce marketplace founded in 2012. The platform aggregates services from vendors like Microsoft, Datto, and ConnectWise for managed service providers. Pax8's Command Console handles quoting, provisioning, billing, and support for cybersecurity, backup, and communications tools across a global partner network.
Founded
2012
HQ
Denver, COWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
Valuation
$1.7B (Apr 2022)
Pax8 Valuation
Pax8 is currently valued at $1.7B, based on its undisclosed-stage round in April 2022.
The $185M round was led by SoftBank Group, with participation from Catalyst Investors, Sageview Capital, Liberty Global Ventures and Blue Cloud Ventures.
Pax8 valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2022 | Undisclosed stage | $1.7B |
Pax8 Funding History
Pax8 has raised a total of $342M across 6 funding rounds.
Pax8's first fundraising round was a $5M Series A in February 2014. The most recent completed round was a $185M undisclosed-stage round in April 2022.
Pax8 funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2022 | Undisclosed stage | SoftBank Group (lead); Catalyst Investors; Sageview Capital; Liberty Global Ventures; Blue Cloud Ventures | $185M | $1.7B | Pax8 is the leading cloud commerce marketplace that simplifies IT buying for small and medium-sized businesses (SMBs) through its platform, marketplace, education, support, and solutions, enabling over 200,000 businesses via 20,000 managed services partners. On April 11, 2022, Pax8 raised $185 million in a funding round led by new investor SoftBank Vision Fund 2, with participation from existing investors Catalyst Investors, Sageview Capital, Blue Cloud Ventures, and Liberty Global Ventures. The round increased the company's valuation to $1.7 billion, marking its entry into unicorn status. The funding is intended to accelerate innovation in Pax8's technology and marketplace, support continued expansion into new global markets, and enhance capabilities for SMBs and software vendors seeking distribution to hard-to-reach customer segments. Kristin Bannon from SoftBank Investment Advisers joined the Pax8 Board of Directors as part of the transaction. CEO John Street highlighted the company's record-breaking year-over-year growth and commitment to elevating performance through partners, employees, technology, education, and support. Pax8, co-founded in 2012 by CEO John Street, COO Ryan Walsh, and Chief Strategy Officer Klaus Dimmler, had grown its global workforce to 1,100 employees by the time of the announcement, with plans for further hiring in design, engineering, product, and marketing roles. SoftBank's Managing Partner Nagraj Kashyap and Investment Director Kristin Bannon praised Pax8's disruption of the IT industry, innovation, and transformative potential for B2B markets. |
| Jan 2021 | Undisclosed stage | Catalyst Investors (lead); Sageview Capital (lead); Liberty Global Ventures; Blue Cloud Ventures | $96M | - | Pax8, a cloud commerce marketplace enabling IT professionals and managed service providers to buy, sell, and manage cloud products for SMBs, raised $96 million in new equity capital on January 6, 2021. The growth funding round was co-led by Catalyst Investors and Sageview Capital, with additional participation from existing investors Blue Cloud Ventures and Liberty Global Ventures. Todd Clapp from Catalyst Investors and Scott Stuart from Sageview Capital joined the Pax8 board of directors as part of the transaction. The capital was intended to support Pax8's global expansion into new geographies and accelerate development of its cloud marketplace technology platform, which emphasizes customer experience to simplify cloud adoption for SMBs. CEO John Street highlighted the unique integration of technology and support, positioning Pax8 for new opportunities. Investors praised Pax8's innovation in cloud services distribution, its growth potential amid SMB cloud adoption, and leadership in North America and emerging European presence. Subsequent rounds included a $185 million raise in April 2022 led by SoftBank Vision Fund 2, which valued Pax8 at $1.7 billion and involved the same existing investors. Prior funding included $41.7 million in September 2020 and $13.3 million in 2019, per regulatory filings. |
| Sep 2020 | Undisclosed stage | Catalyst Investors | $42M | - | Pax8 is a cloud commerce marketplace that enables IT professionals and managed service providers to buy, sell, and manage cloud products for small and medium-sized businesses (SMBs), simplifying billing, provisioning, and cloud adoption through its platform. This preceded a $96 million venture round in January 2021 co-led by Catalyst Investors and Sageview Capital, with participation from Blue Cloud Ventures and Liberty Global Ventures, to fund global expansion and platform development. Catalyst Investors, a growth equity firm focused on SaaS and tech-enabled services, participated in multiple Pax8 rounds including 2021 and 2022. The 2020 round fits into Pax8's funding history totaling around $395 million across various rounds from pre-seed in 2011 through 2023. |
| Feb 2019 | Series A | Avenir | $13M | - | Pax8 raised $13.3 million in a venture round in February 2019 led by Avenir to accelerate product development and market expansion. |
| Apr 2014 | Pre-seed | - | $400K | - | - |
| Feb 2014 | Series A | FirstMile Ventures (lead) | $5M | - | Pax8 is an AI-powered cloud marketplace that enables resellers, managed service providers, and channel partners to buy, sell, and manage cloud-based solutions for small and medium-sized businesses. Founded in 2012, the company targets SMBs through a network of managed service providers, positioning itself as a cloud distributor and marketplace platform. In February 2014, Pax8 raised $5.1 million in a Series A round led by FirstMile Ventures, a Colorado-based seed and early-stage VC firm. The funding was intended to expand the team and enhance the platform's capabilities as the company scaled its operations. By April 2022, approximately eight years after this round, Pax8 had achieved a $1.7 billion post-money valuation and raised $185 million from SoftBank Vision Fund 2 alongside existing investors Catalyst Investors, Sageview Capital, Blue Cloud Ventures, and Liberty Global Ventures. At that point, the company had reached a $1 billion annual recurring revenue run rate, supporting over 25,000 partners and serving more than 400,000 customers globally. |
Who has invested in Pax8?
7 investors have backed Pax8 across its funding rounds, including Catalyst Investors, Blue Cloud Ventures, Liberty Global Ventures, Sageview Capital, SoftBank Group and Avenir.
Lead investors include SoftBank Group, Catalyst Investors, Sageview Capital and FirstMile Ventures.
Pax8 Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 3 | Lead | Sep 2020 | |
| San Francisco, CA | 2 | Lead | Jan 2021 | |
| Denver, CO | 2 | Participant | Jan 2021 | |
| Miami, FL | 2 | Participant | Jan 2021 | |
 Tokyo | 1 | Lead | Apr 2022 | |
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Start Free TrialAcquisitions by Pax8
Pax8 has acquired 6 companies to date.
Last acquisition by Pax8 was on February 2nd 2023. Pax8 acquired Bam Boom Cloud for undisclosed valuation.
Latest Acquisitions by Pax8
| Description | Bam Boom Cloud is a consultancy specializing in Microsoft Cloud implementations for small and medium-sized businesses. The firm deploys Azure, Microsoft 365, and Dynamics 365 solutions to streamline operations and enhance security. Headquartered in Australia, Bam Boom Cloud serves clients across retail, healthcare, and professional services sectors. Services include cloud migration, custom app development, and ongoing support through managed services agreements. The company holds multiple Microsoft Partner designations and focuses on rapid deployment to reduce implementation time by up to 50 percent. | Umbrellar is a Wellington-headquartered managed cloud services provider in New Zealand. It operates public cloud platforms on AWS and Azure, handling migrations for government agencies and enterprises like Fonterra. Services include infrastructure automation, disaster recovery, and container orchestration with Kubernetes. Founded in 2014, Umbrellar maintains data sovereignty through NZ-based regions. | - | - | |
| HQ Country |  |  |  |  | |
| HQ City | Derby | Auckland | - | - | |
| Deal Date | 2 Feb 2023 | 31 Jul 2022 | 6 Jan 2022 | 6 Jul 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Pax8 Competitors
Pax8 competitors include listed companies like C3.ai and VNET Group, and private ones like Optimism, Orca Security, Wasabi Technologies and WEKA.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $250M | ($484M) | $1.7B | 4.5x | |
 China | Publicly listed | $1.5B | $463M | $1.7B | 3.7x | |
| New York City, NY | Private | $45M | - | $1.6B | 36.7x | |
| Portland, OR | Private | - | - | $1.8B | - | |
| Boston, MA | Private | - | - | $1.8B | - | |
| San Jose, CA | Private | $100M | - | $1.6B | 16.0x |
Pax8 Public Comps
Pax8 is still privately-owned, but its public comps include C3.ai, VNET Group, Nava, TBO.com, Anterix, UCloud Technology, HBX Group, ESDS Software, SharonAI and Izumi Co.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $1.5B | $463M | 4.1x | 3.7x | 13.2x | 11.8x | |||
| $445M | $192M | 3.8x | - | 8.8x | - | |||
| $262M | $41M | 6.7x | 5.2x | 43.2x | 34.3x | |||
| $7M | ($29M) | 216.3x | 103.4x | (47.7x) | (46.7x) | |||
| $253M | $31M | 7.7x | - | 63.2x | - | |||
| $896M | $218M | 3.0x | 3.3x | 12.4x | 5.7x | |||
| $49M | $25M | 38.3x | 13.8x | 76.7x | 56.6x | |||
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Common questions about Pax8
| When was Pax8 founded? | Pax8 was founded in 2012. |
| Where is Pax8 headquartered? | Pax8 is headquartered in Denver, CO, United States. |
| Is Pax8 publicly listed? | No, Pax8 is a private, VC-backed company. |
| What is Pax8's valuation? | Pax8 was last valued at $1.7B in its undisclosed-stage round in April 2022. |
| How much funding has Pax8 raised? | Pax8 has raised $342M across 6 funding rounds. |
| What was Pax8's last funding round? | Pax8's last funding round was a $185M undisclosed-stage round in April 2022, led by SoftBank Group. |
| Who are Pax8's investors? | Pax8's investors include Catalyst Investors, Sageview Capital, Liberty Global Ventures, Blue Cloud Ventures, SoftBank Group, Avenir and FirstMile Ventures. |
| Which companies are comparable to Pax8? | Companies comparable to Pax8 include C3.ai, VNET Group, Optimism, Orca Security, Wasabi Technologies and WEKA. |
| How many companies has Pax8 acquired? | Pax8 has acquired 6 companies, including Bam Boom Cloud, Umbrellar, TVG, Resello and Sea-Level Operations. |
See companies similar to Pax8
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