Pax8, the best place for IT professionals to buy cloud products, today announced it has raised $96 million in new equity capital; the funding was co-led by Catalyst Investors and Sageview Capital with additional contribution from previous investors Blue Cloud Ventures and Liberty Global Ventures. The company also named Todd Clapp, Partner at Catalyst Investors, and Scott Stuart, Co-Founder and Managing Partner at Sageview, to the Pax8 Board of Directors.
“This new investment provides Pax8 with the capital to expand globally into new geographies and accelerate the ongoing development of our industry-leading cloud marketplace technology platform,” said John Street, Chief Executive Officer at Pax8. “We have a unique approach that tightly couples our technology platform with an unparalleled customer experience that simplifies cloud adoption. As we enter into the new year, we are excited about the partnership with Catalyst and Sageview and the new opportunities this investment provides.”
“John and his team have built Pax8 into a true innovator and leading provider of cloud services to the channel,” said Clapp. “As SMBs have only moved a fraction of workloads to the cloud, Pax8 is poised to experience tremendous growth and Catalyst is thrilled to be partnering with the team to help unlock this value.”
“Pax8’s impressive growth profile, significant addressable market, and emerging leadership position in North America and now Europe are hallmarks of a Sageview investment,” said Stuart. “We look forward to partnering with the Pax8 team and our co-investors to capitalize on the opportunity.”
To learn more about Pax8, please visit www.pax8.com.
Pax8 is modernizing how partners buy, sell, and manage cloud. As a born-in-the-cloud company, Pax8 simplifies the buying journey with cloud automation, empowering the modern partner to achieve more. The company’s technology displaces legacy distribution by connecting the channel ecosystem to its award-winning transactional cloud marketplace. 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 three consecutive years — #68 in 2018, #60 in 2019, and #111 in 2020 — as one of the fastest-growing private companies in the US. If you want to be successful with cloud, you want to work with Pax8. Get started today at www.pax8.com.
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About Catalyst Investors
Catalyst Investors is a growth equity firm based in New York. The firm’s mission is to earn superior returns by helping entrepreneurs build great companies. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue growth. Over the past 20 years, Catalyst has invested in companies across the SaaS, tech-enabled services and internet infrastructure sectors, and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Weave, Effectual, ChowNow, EnterpriseDB, Xplornet, Insite Wireless and PresenceLearning. For more information, visit www.catalyst.com.
About Sageview Capital
Sageview Capital is a private investment firm focused on providing growth capital and operational support to leading tech-enabled businesses. The firm’s investments include 360insights, Aceable, Brandwatch, CallRail, Demandbase, Drivewyze, Elastic Path, Ezoic, MetricStream, Pantheon, NAM, Rapid RTC, Theatro, Womply, and XSELL Technologies, among others. Sageview was founded in 2006 and is led by co-founders Ned Gilhuly and Scott Stuart, and senior partner Dean Nelson. Since 2008, the firm has deployed over $1 billion across 26 growth capital investments. The firm has offices in Greenwich, Connecticut, and Palo Alto, California.
About Blue Cloud Ventures
Blue Cloud Ventures is a software-focused growth equity venture capital firm based in New York City. The fund targets investments in leading SaaS, infrastructure and open source software companies such as ApplyBoard, Aras, Clari, Cloudbees, Doctor on Demand, Druva, Iterable, NGINX, Pax8, Weave and Wrike. For more information on BCV and our portfolio companies, visit www.bluecloudventures.com.
About Liberty Global Ventures
Liberty Global Ventures is Liberty Global’s investment arm, with a diverse portfolio of 40 companies in content, technology, internet and distribution. The group consists of a dedicated team in Denver, Silicon Valley, London and Amsterdam, whose remit is to leverage the company’s scale and expertise to drive superior strategic and investment returns.
John Trent, Public Relations Manager at Pax8