Pax8 Raises $185M in Equity Capital

Pax8, a cloud commerce marketplace, announced it has raised $185 million in new equity capital from SoftBank Vision Fund 2, increasing the company’s valuation to $1.7 billion. SoftBank Vision Fund led the funding series with additional contributions from 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.

Pax8 has cloud-enabled more than 200,000 businesses with its 20,000 managed services partners, platform, marketplace, education, support and solutions. The company offers 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.

“As we continue to evolve our technology and marketplace to meet the needs of SMBs, the new investment will provide capital to accelerate innovation and continued expansion into new global markets,” said John Street, CEO at Pax8. “This strong funding round reflects the powerful work Pax8 is doing to enable and grow SMBs through our partners, employees, technology, education, and support. Year over year, we continue to experience record-breaking growth, and we look forward to working with SoftBank to continue elevating our performance.”

To learn more about Pax8, visit www.pax8.com.