DENVER – 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."