DENVER, Nov. 17, 2022 (GLOBE NEWSWIRE) — Pax8, the leading cloud commerce marketplace, today announced it was ranked #131 in the Deloitte Technology Fast 500™, a ranking of 500 technologies, media, telecommunications, life sciences fastest growing fintech and energy technology company in North America, now in its 28th yearth year. Technology Fast 500 award winners are selected based on the percentage of revenue growth for the fiscal year 2018 through 2021. Pax8 grew 1,122% during this period.
“Pax8 continues to proliferate with over 1,400 employees in 17 countries and our culture fuels our success,” said John Street, chief executive officer of Pax8. “With a mission to be the world’s preferred marketplace to purchase cloud products, we are enabling businesses around the world to achieve efficiencies, drive growth and reduce risk. We’ve accomplished some amazing things and are excited about the next phase of our journey.
To be eligible for Technology Fast 500 accolades, companies must own proprietary intellectual property or technology sold to customers in products that contribute the majority 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 have been in business for at least four years and be based in North America. Collectively, 2022 Technology Fast 500™ companies experienced revenue growth of between 241% and 125,138% from 2018 to 2021, with a 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 thrived by anticipating the future, understanding what it takes to succeed, and pushing creativity forward,” he said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all aspects of technology, the winners demonstrated not only that they have the vision, but also that they are able to competently manage their businesses through rapid growth. We congratulate each winner on their outstanding achievements.”
“As last year has shown us, innovation in important areas like life sciences is critical to addressing infectious diseases and other global health issues,” said Paul Silverglate, vice president, Deloitte LLP and technology industry leader American. “Moreover, technology must keep pace with the ever-changing demands of consumers and businesses for faster, safer and more efficient solutions to new societal challenges. Every year I am amazed by the immense talent revealed by the Technology Fast 500 rankings, confirming the relentless pursuit of winners’ creativity and ability to solve real-world problems for the benefit of all of us.”
For more information about Pax8, visit www.pax8.com.
Pax8 is the world’s favorite cloud marketplace for IT professionals to buy, sell and manage the best technology solutions. Pioneering the future of modern business, Pax8 has cloud-enabled more than 350,000 businesses through its channel partners and processes one million transactions monthly. Pax8’s award-winning technology enables managed service providers (MSPs) to accelerate growth, increase efficiency and reduce risk so their businesses can thrive. The innovative company has been ranked in the Inc. 5000 for five consecutive years. Join the revolution at pax8.com.
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