Pax8 reports $350,000 raised at first close


pax8Pax8 received two commitments for its $5 million financing round. Investors committed to buy 7% or $350,000 worth of equity on April 8th. An additional $4.65 million in funding is to be raised until the offering draws to a close in April 2015. Two previous unregistered financing rounds raised an estimated $7.02 million.

The company developed a proprietary marketplace technology platform, called the Pax8 Command Console (console), that offers cloud-based solutions to businesses. The console allows businesses to aggregate and manage cloud services in one place. Cloud services offered range from security, data management to infrastructure, among others.

The company is headquartered in Lone Tree CO. Pax8 elected to keep its revenues undisclosed.
The executive team includes John W Street.
The board of directors includes Edwin L Harper and Klaus Dimmler.

The company has raised an estimated total of $7.37 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Pax8
Industry: Other Technology
Amount offered: $5 million
Amount placed: $350,000
First sale: 04-08-2014
Data as of: 04-23-2014

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