Cloud Marketplace Innovator Pax8 Ranks 131 on the Deloitte Technology Fast 500

MSP TODAY NEWS

Cloud Marketplace Innovator Pax8 Ranks 131 on the Deloitte Technology Fast 500

By Juhi Fadia

Denver, Colorado-based Pax8 has landed a coveted spot on the Deloitte Technology Fast 500, ranked No. 131 among the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Now in its 28th year, the Technology Fast 500 program selects winners based on percentage fiscal year revenue growth over a three-year period. Pax8 grew by 1,122% from 2018 to 2021.

“Pax8 continues to proliferate with more than 1,400 employees in 17 countries, and our culture fuels our success,” said John Street, Pax8 CEO. “With a mission to be the world’s favorite marketplace to buy cloud products, we are enabling businesses worldwide to gain efficiencies, drive growth, and reduce risks. We have accomplished some extraordinary things and are exhilarated about the next phase in our journey.”

When asked how the company has continued to thrive in even the most challenging economic periods, Street said, “We go above and beyond to find the best cloud solution companies with the most to offer the MSPs we serve, bringing value to both sides of the table. We’ve made it exceedingly easy for MSPs to discover, learn about, procure and in turn provision, implement, manage, monitor, and measure the impact of every major category that SMBs need to succeed. We don’t just talk about a better way for MSPs to serve their SMB customers – we actively ensure convenience, platform performance, and ongoing innovation. Both MSPs and vendors have responded to this, especially after they experience the efficiency and cost savings our marketplace delivers.”

Pax8’s marketplace categories include:

  • Communications
  • Continuity
  • Infrastructure
  • Integrations
  • Network
  • Operations
  • Productivity
  • Security

“Having the best people in the industry has been key to our success,” Street said. “When you build a company with a culture that values employees, then everything – market research, software development, the adoption of APIs that allow our platform to communicate with other platforms, sales, marketing, as well as education and enablement for MSPs – comes together in ways that allow our business to grow fast. I also attribute our success to the relationships we’ve built with the vendors in our marketplace, and with the MSP partners who have given us great insights into what they need as demand for cloud services continues to rise. We are not an insular organization; we are inclusive, collaborative and we value creativity and enthusiasm.”

“Technology must keep pace with ever-changing consumer and corporate demands for faster, safer, and more efficient solutions to new societal challenges,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “Each year I am in awe of the immense talent the Technology Fast 500 rankings reveal, confirming the winners’ relentless pursuit of creativity and ability to solve real-world problems that benefit us all.”

To be eligible for Deloitte Technology Fast 500 recognition, companies must own proprietary intellectual property or technology sold to customers in products that contribute to most of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America. Overall, 2022 Technology Fast 500 companies achieved revenue growth ranging from 241% to 125,138% from 2018 to 2021, with median growth of 611%.

“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”

Pax8 has cloud-enabled more than 400,000 enterprises through its channel partners and processes one million monthly transactions. Pax8’s award-winning technology enables MSPs to accelerate growth, increase efficiency, and reduce risk so their businesses can thrive. The company has ranked in the Inc. 5000 for five years in a row.


Juhi Fadia is an engineer, analyst, researcher and writer covering advanced and emerging technologies.

Edited by Erik Linask

Correspondent

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