17. Pax8
Revenue: £100m (EMEA estimate)
Staff: 200 (EMEA total: 350)
Specialism: Cloud software
Key vendors: Microsoft, Acronis, SentinelOne, Bitdefender, Ironscales
UK HQ: Bristol
Founded in 2012, this US-based cloud marketplace specialist has grown its annual runrate revenues to $900m in the space of a decade.
According to market sources, its UK and EMEA business - which is based on its acquisitions of UK-based Wirehive and Netherland-based Resello in January and July 2021, respectively - already boasts a revenue runrate in the region of £100m.
In April, Pax8 pegged its market value at $1.7bn after scoring $185m in equity funding from Softbank. It will be used to "accelerate innovation and continued expansion into new global markets".
Q&A with Pax8 EMEA chief revenue officer Phylip Morgan
What's been your biggest business highlight of 2022 so far?
We recently hit 3,000 active partners. We've also earned close to 50 awards for the UK team, and attended more than 100 events in the UK
Do you expect to grow in 2022?
Pax8 UK has been growing 800 per cent yearly since we launched in Jan 2021.
What's the one market trend everyone else is missing?
Building a great culture and achieving low staff turnover. Our UK staff retention rate for 2021 is 92.6 per cent. And the power of connection; creating a P2P community where Pax8 presents and provides spaces for peer-to-peer learning and collaboration. The days of MSPs seeing each other as either competition or seeking to do everything vs. finding a specialism is gone. We look at ways to connect partners across varying specialisms to deliver a world-class, best-in-breed digital customer experience to enable all.
Have you made any significant vendor signings in the last 12 months?
- Nord Security
- Check Point email security
- Exclaimer
- Axcient
- SkyKick
- CyberCNS
- NovaSoc
Which emerging vendor/technology are you tipping for take-off in 2022?
When it comes to cybersecurity and data protection, we are constantly looking at new vendors to bring into our marketplace. In 2022, we launched the Cybersecurity Masterclass for our partners, and through that, we are engaging our leading vendors to support education and enablement around the NCSC Cyber Essentials Framework.
2022 will have been a successful year for your company if…we continue our mission to modernise business with cloud solutions. To-date, Pax8 has cloud enabled more than 220,000 businesses through its networking of 25,000 MSP partners.
Distributor share prices have cooled over the last 12 months. Is that a concern?
Pax8 continues to achieve record growth. Our business is not slowing down.
Pax8 continues to achieve record growth. Our business is not slowing down
What, if any, role does distribution have to play when it comes to sustainability?
Pax8 EMEA partners with Ecologi to plant trees and fund climate projects to help offset our carbon footprint. Robert Belgrave, our Chief People Officer, is a co-founder and acting chairman of Ecologi. Through this partnership, Pax8 has planted 36,126 new trees around the world and helped to fund 37 climate projects.
Employees can also solicit help for their preferred non-profit causes through our Celebr8 Community Programme, which brings together Pax8 employees and partners in support of local matters.
Which distributor (other than your own company) do you feel has done a good job over the last year?
Resello.com in the Netherlands. We loved their company leadership, culture, and innovative approach so much, we bought the company.
Which hardware distie broke £100m in its latest year? See next page for more...
