Deloitte and ColoradoBiz recognize Pax8 at year-end.
Thanks to the Pax8 partners and vendors who grew their businesses in the Pax8 Marketplace in 2022, Pax8 is rounding out the year with two new accolades and one big milestone.
In November, the 2022 Deloitte Technology Fast 500™ ranked Pax8 No. 131 on its list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Pax8 logged a growth rate of 1,122% from 2018 to 2021.
“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,” John Street, Pax8 CEO and co-founder, said when the ranking was announced. “We have accomplished some extraordinary things and are exhilarated about the next phase in our journey.”
Our growth, as highlighted by the Deloitte Technology Fast 500 program, shows that vendors, managed service providers (MSPs), and the small and medium-size (SMB) clients they serve are utilizing the Pax8 Marketplace and enablement services to accelerate growth in the channel even in times of economic uncertainty.
Now in its 28th year, the Technology Fast 500 program selects winners based on percentage fiscal year revenue growth over a three-year period.
To be eligible for Deloitte Technology Fast 500 recognitions, 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.
“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.”
ColoradoBiz Magazine Honors Pax8 CEO and Co-founder John Street
This month, Street was named 2022 CEO of the Year by ColoradoBiz Magazine. The honor recognizes Street’s excellence in business and people leadership, company performance, and civic engagement. Street was one of 10 finalists for the distinguished award, which was judged by a panel made up of ColoradoBiz magazine’s editorial board. He was profiled in the Winter 2022 issue of ColoradoBiz Magazine.
As CEO of the Year, Street was recognized for his legacy and passion as an award-winning entrepreneur and CEO for building disruptive technology that helps businesses grow and thrive. He is a visionary and institutes a human-centric approach to building extraordinary company cultures. Pax8 has grown to 1,400 employees worldwide in 2022.
“This year’s CEO of the Year nominees were an impressive group as I can recall, in terms of their individual accomplishments and that of their companies,” said Mike Taylor, Editor at ColoradoBiz. “John Street embodies what the CEO of the Year awards seek to recognize. The business and workplace culture he envisioned and then proceeded to build at Pax8, along with his community involvement, made an obvious impression on the judging panel.”
Partners Help Pax8 Hit Annual Recurring Revenue Milestone
And about that milestone? Last month, Pax8 announced it surpassed $1 billion in annual recurring revenue (ARR). Pax8 celebrated the milestone with a takeover of the NASDAQ MarketSite’s massive digital billboard at the base of 4 Times Square in Manhattan, New York. This milestone is a sign not only of the commitment to the channel that lies at the heart of all Pax8 does, but also is the direct result of MSPs placing their trust in us. We are continually grateful for the MSPs and vendors who utilize the Pax8 Marketplace as their favorite place to buy cloud products.
Pax8 has cloud-enabled more than 400,000 enterprises through its channel partners and processes one million monthly transactions. Pax8 has ranked in the Inc. 5000 for five years in a row. Our partners across the globe benefit from dedicated support and best-in-class enablement and education programs. In 2023 and beyond, we will continue to focus on transforming cloud distribution and uplifting SMBs through our MSP partners.
