Pax8 Raises $96 Million to Transform Cloud Services Delivery
Pax8, the best place for IT professionals to buy cloud products, has recently announced that it has raised $96 million in new equity capital [1][4]. The funding was co-led by Catalyst Investors and Sageview Capital with additional contribution from previous investors Blue Cloud Ventures and Liberty Global Ventures [1][3][5]. This new funding will help Pax8 to transform cloud services delivery and continue to innovate its platform for IT service firms [2].
Centralizing the Provisioning and Billing Processes
Pax8 is the developer of a distribution application that helps IT professionals buy, sell, and manage cloud products [3]. The platform makes it simpler for IT service firms to centralize the provisioning and billing processes across multiple cloud applications [2]. This means that IT professionals can easily manage their cloud products from a single platform, which saves time and reduces complexity.
Expanding the Platform’s Capabilities
With the new funding, Pax8 plans to expand the capabilities of its platform and provide more value to its customers [1]. The company aims to enhance its automation capabilities, improve its integrations with other cloud applications, and provide more data analytics and insights to its customers [2]. These improvements will help IT professionals to optimize their cloud services delivery and improve their overall business performance.
Appointing Two New Board Members
In addition to the new funding, Pax8 has also appointed two new board members: Jonathan Drillings, Managing Partner at Sageview Capital, and Todd Clapp, Managing Director at Catalyst Investors [1]. Both Jonathan and Todd bring extensive experience in growth equity investing and will provide valuable insights to Pax8’s management team as the company continues to grow.
The Future of Cloud Services Delivery
The cloud services market is rapidly growing, and Pax8 is well-positioned to capitalize on this trend [4]. With its innovative platform and strong investor backing, Pax8 is poised to become a leader in cloud services delivery. The company’s focus on simplifying the provisioning and billing processes for IT professionals has resonated with customers, and its continued investment in automation and data analytics will only strengthen its position in the market.
Conclusion
Pax8’s recent funding round and board appointments are a testament to the company’s success in transforming cloud services delivery. The platform’s ability to centralize the provisioning and billing processes for IT professionals has made it a valuable tool for businesses looking to optimize their cloud services delivery. With its new funding, Pax8 will continue to innovate and expand its capabilities, providing even more value to its customers. As the cloud services market continues to grow, Pax8 is well-positioned to lead the way.
