Pax8, a company for IT professionals to buy cloud products, 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, Pax8 CEO.
As a born-in-the-cloud company, Pax8 simplifies the buying journey with cloud automation, empowering partners to achieve more. The company’s technology displaces legacy distribution by connecting the channel ecosystem to its transactional cloud marketplace.
Through billing, provisioning, automation, PSA integrations, pre- and post-sales support and education, Pax8 is a proven market disruptor in the market.