https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Tech Services Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
    • Diversity, Equity & Inclusion
  • MSP 501
    • Back
    • MSP 501 Information Center
    • 2021 MSP 501 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2022 Editorial Calendar
  • Awards
    • Back
    • 2021 MSP 501
    • Circle of Excellence
    • DE&I 101
    • Top Gun 51
    • Channel Partners 101 (CP 101)
  • Events
    • Back
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Tech Services Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
    • Diversity, Equity & Inclusion
  • MSP 501
    • Back
    • MSP 501 Information Center
    • 2021 MSP 501 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2022 Editorial Calendar
  • Awards
    • Back
    • 2021 MSP 501
    • Circle of Excellence
    • DE&I 101
    • Top Gun 51
    • Channel Partners 101 (CP 101)
  • Events
    • Back
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Agents
  • Cloud Service Providers
  • Channel Partners Events
 Channel Futures

Business Models


Shutterstock

Funding

Pax8 Valuation Soars Thanks to New Equity Funding

  • Written by Kelly Teal
  • April 11, 2022
The cloud marketplace distributor just secured $185 million more from SoftBank. Find out its valuation now.

CHANNEL PARTNERS CONFERENCE & EXPO/MSP SUMMIT, LAS VEGAS — Pax8 (a signature MSP Summit sponsor) says its valuation now totals $1.7 billion thanks to a fresh round of equity funding.

On Monday, the cloud marketplace distributor said it has raised $185 million from SoftBank Vision Fund 2, a new investor. Pax8 last secured $96 million in January 2021 following its acquisition of Wirehive.

Other firms contributing to Pax8’s $185 million in equity funding include existing investors Catalyst Investors, Sageview Capital, Blue Cloud Ventures and Liberty Global Ventures.

Pax8's John Street

Pax8’s John Street

Pax8 targets SMBs through its managed service providers (the company says it has 20,000 of those partners). As such, “the new investment will provide capital to accelerate innovation and continued expansion into new global markets,” said John Street, CEO of Pax8.

Pax8 already has embarked on building its European footprint through the 2021 purchases of Wirehive and Resello. This latest round of equity funding will continue to fuel that trajectory.

“Year over year, we continue to experience record-breaking growth, and we look forward to working with SoftBank to continue elevating our performance,” Street said. In August 2021, Channel Futures noted Pax8’s growth at 2,558% over three years.

To that point, Nagraj Kashyap, managing partner at SoftBank, said Pax8 “has disrupted the IT industry, exemplified courage through innovation, and has built the people, processes and technology to revolutionize the way businesses build and consume technology.”

The transaction calls for Kristin Bannon, investment director at SoftBank Investment Advisers, to join Pax8’s board of directors.

SoftBank's Kristin Bannon

SoftBank’s Kristin Bannon

“Through its marketplace, Pax8 is empowering SMBs with technology solutions they would otherwise not have access to while simultaneously granting software vendors distribution capabilities to a hard-to-reach customer segment,” Bannon said. “I am thrilled to join the Pax8 board and partner with the company on its hyper-growth technology strategy for the platform and cloud marketplace, and new opportunities for the company and its ecosystem of partners.”

The Promise SoftBank Sees in Pax8

SoftBank Vision Fund 2 also extends equity funding to companies across sectors including consumer, enterprise and education technology. The firm holds more than $100 billion in capital.

Certainly taking a risk on a cloud company isn’t such a big risk. The cloud marketplace opportunity, in particular, is hot. As of mid-last year, 63% of business in the United States went through a cloud marketplace such as Pax8, Ingram Micro Cloud, Salesforce App Exchange and others. This only bodes well for the channel.

One of the ways cloud marketplaces give the channel a boost is in the ability to provision branded self-service resources for customers. This way, they get to keep their company names in front of clients and handle more projects for those customers.

Want to contact the author directly about this story? Have ideas for a follow-up article? Email Kelly Teal or connect with her on LinkedIn.

 

Tags: Cloud Service Providers MSPs Business Models Channel Partners Event Coverage Cloud Distribution Strategy

Most Recent


  • Best practices
    AWS Security Best Practices: A Baker's Dozen for Success in the Cloud
    From implementing the principle of least privilege to cloud workload protection, following these tips makes for a more secure cloud infrastructure.
  • Making Waves
    8 Channel People Making Waves This Week at Avant, Cisco, Databricks, More
    We reported on the same story three times this week because of its importance to the channel. Can you guess which topic?
  • Given the large and rapid influx of service providers selling Versabased services as well as several new reseller partners my biggest challenge is scaling and integrating strong channelsmart talent at the rate that our business is growing
    Talent Shortage Ripple Effects Continue to Create Headaches for Partners
    As many MSPs deal with continuing hiring shortages, there is a growing need to find and retain the right talent.
  • Choice of direction
    New Charter Focuses on the Entrepreneur Journey with Different M&A Strategy
    The portfolio company of private equity firm Oval Partners has a unique model in a continually fluctuating landscape.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Twenty, 20
    The CF List: 2022's 20 UCaaS Providers You Should Know
  • MSPs What's Next CP Expo 2022
    MSPs Consider What’s Next as M&A, Talent Shortage, More, Impact Them
  • Power Panel at CP Expo 2022
    CP Expo Power Panel: Cisco, ThreatLocker, AT&T, Microsoft
  • Carolyn April CP Expo 2022
    Beyond the Trends in Managed Services 2022 with CompTIA

Upcoming Events

View all

Channel Partners Europe

June 14, 2022 - June 15, 2022

MSP Summit

September 13, 2022 - September 16, 2022

Galleries

View all

8 Channel People Making Waves This Week at Avant, Cisco, Databricks, More

May 13, 2022

Talent Shortage Ripple Effects Continue to Create Headaches for Partners

May 13, 2022

The Gately Report: Sectigo Enterprise Sales Leader Calls for More Women in Cybersecurity

May 13, 2022

Industry Perspectives

View all

Voice Analytics Are a Must-Have as Companies Evolve COVID-Rushed Tech

May 12, 2022

Top 5 Trends and Challenges Channel Partners Are Facing in 2022

May 9, 2022

Understanding Compliance for MSPs

May 3, 2022

Webinars

View all

Simplifying SaaS Security for MSPs

April 27, 2022

How to Supercharge The Network to Support Your IT Superhero Moves

May 3, 2022

The 2022 MSP Challenge: Scale Service Delivery Despite the Talent Gap

April 21, 2022

White Papers

View all

The New Bottom Line: How MSPs Can Meet the Healthcare Crisis While Evolving Their Businesses

April 19, 2022

How to build a Security Operations Center (on a budget)

April 4, 2022

The AT&T Cybersecurity Incident Response Toolkit

April 4, 2022

Channel Futures TV

View all

AT&T, Microsoft, Cisco, ThreatLocker on Unlocking Partner Potential

Agents Share ‘Secrets,’ Industry Opportunity

May 11, 2022

Vonage Addresses Potential Partner Opportunity via Acquisition by Ericsson

May 5, 2022

Lumen Technologies ‘Built for Growth and Scale’

May 4, 2022

Twitter

ChannelFutures

Being #cybersecurity proactive about the threat landscape makes a better #cloudcomputing strategy, says… twitter.com/i/web/status/1…

May 16, 2022
ChannelFutures

As many MSPs deal with continuing hiring shortages, there is a growing need to find and retain the right talent.… twitter.com/i/web/status/1…

May 13, 2022
ChannelFutures

New Charter is focusing on the entrepreneur journey and has a unique snap-up model/strategy. dlvr.it/SQK8Jn https://t.co/kZ69jpi4AA

May 13, 2022
ChannelFutures

Free Live DE&I Webinar: “Shared Language: Inclusion Culture’s Secret Weapon” dlvr.it/SQK1bt https://t.co/837MHLLgG1

May 13, 2022
ChannelFutures

We talk to a @net2phone SVP about a recent acquisition, the company's push into Latin America and the future of the… twitter.com/i/web/status/1…

May 13, 2022
ChannelFutures

Our latest Gately Report includes @SectigoHQ on women in #Cybersecurity, @AWNetworks, @Secureworks tracking Iranian… twitter.com/i/web/status/1…

May 13, 2022
ChannelFutures

Read about how @ZayoGroup is expanding its network and refining its operations. dlvr.it/SQG8xn https://t.co/q5UYQvLr6v

May 12, 2022
ChannelFutures

[email protected] published a 29-page report on employer responsibility to employee mental health. Here are 10 takea… twitter.com/i/web/status/1…

May 12, 2022

MSSP Insider

Business advice for MSSPs and news from the broader security channel.

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Galleries

Educational slide shows and images from live events.

Media Kit And Advertising

Want to reach our audience? Access our media kit.

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Events
  • Telecoms.com
  • MSP 501
  • Black Hat
  • IoT World Today
  • Omdia

WORKING WITH US

  • Contact
  • About Us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2022 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X