The company attributes 371% revenue growth to its ability to evolve with channel expansion and anticipate partners’ needs
DENVER, CO (November 22, 2024) – Pax8, the leading cloud commerce marketplace, has been ranked on the Deloitte Technology Fast 500™ for its third year in a row. The ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year, placed Pax8 at 316. Pax8 grew 371% between 2020 and 2023; it was previously ranked 248 as a Technology Fast 500 award winner for 2023 and 131 for 2022.
Present at Deloitte’s Denver award ceremony were Pax8’s Chief Strategy Officer, Ryan Walsh and Chairman of the Board of Directors, John Street. The founding team credits the company’s ability to anticipate and quickly accommodate evolving partner needs and cloud service demands with its fast and sustained revenue growth. “At Pax8, we continue to build the cloud commerce marketplace of the future,” stated Walsh. “Our unique technology platform, built to give our partners a competitive edge, combined with a workplace that maximizes the potential of our high-performing team members, are crucial factors in our growth and success.”
During the growth period considered for the Deloitte recognition through November 2024, Pax8 made strategic moves to expand and further support small to medium-sized businesses in achieving their ambitions through the power of technology. Some of these include:
- Expanding into 17 countries and growing to over 1,700 employees worldwide.
- Naming former CTO, Scott Chasin as CEO to lead the company into its product-led era.
- Expanding its leadership team with new c-level officers over AI, business operations, commerce, product, legal, trust and security, compliance, experience, people operations, and finance.
- Launching its inaugural Beyond partner event, Beyond 2023, the leading industry conference focused on community, innovation, and education for managed service providers (MSPs).
- Introducing the Pax8 Voyager Alliance program, a tiered partner program that is tailored to meet global partners’ specific needs and provides elevated enablement, education, and support, to empower partners to thrive at every stage of their journey.
- Launching its new Marketplace experience, which includes Opportunity Explorer and leverages AI to identify sales opportunities for MSPs, and Storefronts which enables MSPs to create a branded buying experience for their customers who want a self-serve option.
“With cloud marketplace growth expected to exceed $45 billion by 2025, Pax8 remains agile, always ready to empower our partners with the tools they need to succeed in an increasingly competitive space,” Walsh added. “We adapt, iterate, scale, and expand to meet the needs and exceed the expectations of our stakeholders.”
Overall, companies included in the 2024 Technology Fast 500 achieved revenue growth up to 153,625% with a median growth rate of 460%. For details about Deloitte’s honorees, visit the Deloitte website. Pax8’s inclusion among its peer leaders in growth on the Fast 500 and its continued business expansion are a powerful indication of success toward its mission to build the cloud commerce marketplace of the future. With the purpose of providing the best solutions for its partners, Pax8 aims to continue exponential growth in tandem with the quickly evolving industry.
Learn more about Pax8’s at pax8.com.
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for the Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.
About Pax8
Pax8 is the technology marketplace of the future, linking partners, vendors, and small to midsized businesses (SMBs) through AI-powered insights and comprehensive product support. With a global partner ecosystem of over 38,000 managed service providers, Pax8 empowers SMBs worldwide by providing software and services that unlock their growth potential and enhance their security. Committed to innovating cloud commerce at scale, Pax8 drives customer acquisition and solution consumption across its entire ecosystem.
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