Pax8, a Denver, Colorado-based leading cloud commerce marketplace, announced that it raised $185 million in new equity capital from new investor SoftBank Vision Fund 2, increasing the company’s valuation to $1.7 billion.
The round was led by SoftBank Vision Fund, with additional contributions from existing investors Catalyst Investors, Sageview Capital, Blue Cloud Ventures, and Liberty Global Ventures.
As part of the transaction, Kristin Bannon, Investment Director at SoftBank Investment Advisers, will be named to the Pax8 Board of Directors.
Company: Pax8 US, Inc.
Raised: $185.0M
Round: Equity Capital
Funding Month: April 2022
Lead Investors: SoftBank Vision Fund
Additional Investors: Catalyst Investors, Sageview Capital, Blue Cloud Ventures, and Liberty Global Ventures
Company Website: https://www.pax8.com/
Software Category: Cloud Commerce Marketplace
About the Company: Pax8 is modernizing how partners buy, sell, and manage the cloud. As a born-in-the-cloud company, Pax8 simplifies the buying journey, empowering its partners to achieve more with cloud technology. The company’s technology displaces legacy distribution by connecting the channel ecosystem to its award-winning transactional cloud marketplace. The company offers organizations a unique approach and simplifies the IT buying experience for small and medium-sized businesses (SMBs) through the IT channel ecosystem. Pax8 solves challenges around billing and provisioning and provides the automation businesses require for scale. Through billing, provisioning, automation, industry-leading PSA integrations, pre, and post-sales support, and education, Pax8 is a proven disruptor in the market. Pax8 has ranked in the Inc. 5000 for four consecutive years — #68 in 2018, #60 in 2019, #111 in 2020, and #164 in 2021 — as one of the fastest-growing private companies in the US.
Source: https://www.pax8.com/en-us/news-post/pax8-raises-185-million-funding-round-led-by-softbank-vision-fund-2/