Pax8 Follows Wirehive Acquisition with $96 Million in New Equity Capital

Pax8 has raised $96 million in new equity capital, and has big plans for global expansion and further platform development.

The funding was led by Catalyst Investors and Sageview Capital. It also includes previous investors Blue Cloud Ventures and Liberty Global Ventures.

In addition, Catalyst’s Todd Clapp and Sageview’s Scott Stuart have joined Pax8’s board of directors.

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Nick Heddy is Pax8’s chief revenue officer.

Pax8’s Nick Heddy

“This funding will provide the technology, support and education partners need to offer world-class cloud solutions to businesses worldwide,” he said. “Together with our partners, we are accelerating cloud adoption and providing businesses with more opportunities.”

This equity capital gives Pax8 the opportunity to expand globally, Heddy said. In addition, it will allow the company to accelerate the development of its cloud marketplace technology platform.

John Street, Pax8‘s CEO, said the investment will open up new opportunities.

“We have a unique approach that tightly couples our technology platform with an unparalleled customer experience that simplifies cloud adoption,” he said.

SMBs have moved only a faction of their workloads to the cloud, Clapp said. Therefore, Pax8 should experience “tremendous growth.”

Also this week, Pax8 said it is buying Wirehive in a deal that gives channel partners in North America and the U.K. more access to vital cloud capabilities. Wirehive provides cloud hosting and consulting. It’s based in the U.K., and teams with Microsoft Azure, Google Cloud Platform and Amazon Web Services.

Pax8 offers MSPs, VARs, agents and other partner types access to services and platforms including Datto, Acronis, Zoom and RingCentral.