Pax8 Surpasses $1 Billion ARR Milestone, Reflecting the Changing Channel

Pax8 has hit quite a milestone. The cloud marketplace provider has surpassed over $1 billion in annual recurring revenue (ARR). 

Clearly, 2022 has been a big year for Pax8. The ARR milestone is in addition to the company raising $185 million at a $1.7 billion valuation, and announcing the opening of flagship offices in Zwolle, Netherlands and Bristol, U.K.

Pax8’s Nick Heddy

“Crossing the $1 billion annual run rate is an incredible milestone for Pax8,” said Nick Heddy, chief commerce officer at Pax8. “We could not accomplish this without our people, partners, and … technology. Now is the time to accelerate the move to the cloud, and we are here to ensure partner success along the journey to gain new efficiencies, drive growth and reduce risks.

So, what are the company’s plans for continued growth in 2023?

Heddy went on to say that even though Pax8 has hit this milestone, the company is just getting started.

“In the coming year, the channel ecosystem can expect more innovation from Pax8,” Heddy told Channel Futures. “This includes resounding support, and partnerships to enable their growth and scale.”

The current state of the industry and changing political and economic factors will continue to force the channel to shift and adapt. Milestones like Pax8’s indicate such shifts and adaptations, and will indeed enable companies to grow and scale like never before.

Pax8 now has more than 1,500 employees, and 25,000 partners that support more than 400,000 customers.