Total amount raised
$395.5 Millions
Latest funding date
9/1/2023
Location
Pax8 has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including HSBC and Liberty Global Ventures. The company's innovative cloud commerce marketplace solutions have garnered substantial interest and support from the investment community.
Continue reading to delve into the details of Pax8's funding journey and discover the key investors backing this dynamic platform.
What Is Pax8?
Pax8, founded in 2012 by John Street and Klaus Dimmler, is headquartered in Greenwood Village, Colorado. The company specializes in cloud commerce marketplaces, providing a platform for buying, selling, and managing cloud solutions.
With a workforce of 1001-5000 employees, Pax8 offers services like quoting, ordering, provisioning, support, and billing for multiple cloud services. Their platform, the Pax8 Command Console, aggregates cloud services from various vendors, simplifying the process for their partners.
In addition to their marketplace, Pax8 provides customer acquisition programs, marketing on-demand, and sales on-demand to help partners grow their client base. Their focus on enabling growth through their platform, support, and community events has made them a key player in the cloud solutions industry.
How Much Funding Has Pax8 Raised?
- Pre-Seed Round
- Amount Raised: $520K
- Date: December 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the core platform.
- Venture Round
- Amount Raised: $5.1M
- Date: February 2014
- Lead Investors: FirstMile Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Venture Round
- Amount Raised: $350K
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and market entry.
- Debt Financing
- Amount Raised: $3.6M
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide working capital for scaling operations.
- Venture Round
- Amount Raised: $13.3M
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Venture Round
- Amount Raised: $41.7M
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform features and expand the customer base.
- Venture Round
- Amount Raised: $96M
- Date: January 2021
- Lead Investors: Catalyst Investors, Sageview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and global expansion.
- Venture Round
- Amount Raised: $185M
- Date: April 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1.7B
- Motivation Behind the Round: To accelerate innovation and expand into new global markets.
- Debt Financing
- Amount Raised: $50M
- Date: September 2023
- Lead Investors: HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for ongoing projects.
Total Amount Raised: $395.57M. Current Valuation: $1.7B.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a global investment fund managed by SoftBank Investment Advisers. It focuses on investing in technology-driven companies that have the potential to disrupt industries.
- Investment Focus Areas: Technology, artificial intelligence, robotics.
- Notable Investments: Uber, WeWork, DoorDash.
- Catalyst Investors
- Details: Catalyst Investors is a growth equity firm that invests in technology-enabled businesses. They provide capital to help companies scale and achieve their growth objectives.
- Investment Focus Areas: Technology-enabled services, SaaS, digital media.
- Notable Investments: Weave, Conductor, MediaMath.
- Sageview Capital
- Details: Sageview Capital is a private investment firm that provides growth capital to leading companies in the technology, financial services, and business services sectors. They focus on long-term partnerships with their portfolio companies.
- Investment Focus Areas: Technology, financial services, business services.
- Notable Investments: Avalara, Elastic, MetricStream.
- Blue Cloud Ventures
- Details: Blue Cloud Ventures is a venture capital firm that invests in late-stage SaaS and enterprise software companies. They aim to support companies in achieving their growth and expansion goals.
- Investment Focus Areas: SaaS, enterprise software, cloud computing.
- Notable Investments: Druva, Freshworks, Sisense.
- Liberty Global Ventures
- Details: Liberty Global Ventures is the investment arm of Liberty Global, focusing on technology, media, and telecommunications. They invest in companies that align with Liberty Global's strategic interests.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Plume, EdgeConneX, Layer3 TV.
What's Next for Pax8?
With $185 million in new equity capital, Pax8 is poised to accelerate innovation and expand into new global markets. The company aims to enhance its cloud marketplace and technology platform, empowering small and medium-sized businesses (SMBs) with advanced technology solutions. This significant investment, led by SoftBank Vision Fund 2, underscores the vast opportunities available for Pax8, including the potential to cloud-enable more than 200,000 businesses through its 20,000 managed services partners.
Future fundraising opportunities are likely as Pax8 continues its global expansion and innovation efforts. The company may seek additional capital to support further development of its platform and to drive strategic acquisitions. However, Pax8 will face challenges such as navigating competitive pressures, managing rapid growth, and ensuring continuous innovation to meet evolving market demands. Successfully addressing these challenges will be crucial for Pax8 to maintain its competitive edge in the cloud commerce marketplace.
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