Pax8, a cloud commerce marketplace provider, has been named to the 2023 Deloitte Technology Fast 500 list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. This marks the second consecutive year in which Pax8 has been included on the Technology Fast 500. Pax8 ranks 248 on the list.
Previously, Pax8 in August 2023 secured a spot on the Inc. 5000 list of the fastest-growing private companies in the United States. This marked the sixth year in which Pax8 has been included on the Inc 5000. Pax8 ranked 1,038 overall on the list.
Pax8 Boosts Its Revenue and Expands Globally
The Technology Fast 500 and Inc. 5000 rankings come after Pax8 has reached several milestones since its launch in 2012, including:
- Growing its revenue 562% between 2019 and 2022 and 1,122% between 2018 and 2021
- Achieving a $1.7 billion valuation
- Surpassing $1 billion in annual recurring revenue (ARR)
- Building a global team of 1,700 employees
- Extending its market reach into 17 countries
Pax8 Updates Its Cloud Commerce Marketplace
In June 2023, Pax8 unveiled the next evolution of its cloud commerce marketplace at its Beyond event in Denver, Colorado. This marketplace is expected to be generally available to Pax8's partners in 2024, the company indicated.
With the updated marketplace, Pax8 will help match MSPs to customers, the business said. The marketplace will use artificial intelligence to present potential matches to MSPs and customers. From here, MSPs and customers will have the ability to swipe left or right until they find a potential match.
What the Future Holds for Pax8
Pax8 stands as a "global powerhouse," Chief Commerce Officer Nick Heddy said. The company also continues to explore ways to redefine the tech industry and drive innovation, Heddy added.
Meanwhile, Pax8 provides cloud products and services to approximately 30,000 MSPs, collaborates with over 90 vendors and serves over 300,000 businesses around the world, the business stated. Pax8 looks poised to further enhance its marketplace and expand globally.