Pax8 is a Denver, CO-based cloud marketplace that enables IT professionals to buy, sell and manage technology solutions. The company processes one million monthly transactions through a community of 30,000 partners. Through those partners Pax8 provides cloud solutions to 300,000 customers and ten million end-users worldwide. Pax8 received growth capital financing from HSBC in the form of a $50m line of credit. The company intends to use the funds to expand its business reach. The financing establishes a newly formed relationship between Pax8 and HSBC. Pax8 is a born-in-the-cloud cloud commerce marketplace that simplifies the buying journey for channel partners and small-to-medium businesses by displacing legacy distribution and connecting the channel ecosystem to a transactional cloud marketplace. The company provides billing, provisioning, automation, industry-leading PSA integrations, and pre- and post-sales support and education to streamline IT purchases and scale operations. Pax8’s technology addresses billing and provisioning challenges and aims to automate processes required for partner growth. The company has been recognized on the Inc. 5000 list for four consecutive years (2018–2021), reflecting rapid private growth. In April 2022 Pax8 announced a new equity investment that increased its valuation to $1.7 billion. The transaction also includes a board appointment associated with the new investor. Pax8 is a born-in-the-cloud company that provides a transactional cloud marketplace and platform to simplify buying, provisioning, billing, and management of cloud products for channel partners. Its platform includes automation, provisioning, billing, industry-leading PSA integrations, pre- and post-sales support, and education. The company positions itself as a disruptor to legacy distribution by tightly coupling technology with customer experience to simplify cloud adoption. Pax8 has ranked on the Inc. 5000 for three consecutive years (#68 in 2018, #60 in 2019, and #111 in 2020). Leadership says the company plans to expand globally into new geographies and accelerate development of its cloud marketplace technology with new capital. The article frames Pax8 as focused on empowering modern partners and driving further cloud migration for SMBs.

Total raised

$331M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Sep 2023