Latest stage · inferred · Sun Dec 21 2025 00:00:00 GMT+0000 (Coordinated Universal Time)
Pax8, Inc. looks under-valued against its niche peers and is active on financing cadence.
Raised $415M across 17 disclosed rounds, last modeled as Series D+ (a $100M–$400M round).
Modeled value is 0.44× the median modeled value of Series D+ Other Technology companies in 2025–2027 (60 peers) — value vs value, same stage and era.
Valued on the technology profile — its sector's growth and survival benchmarks differ from the market default, so the same raise is worth more or less here.
Last raise 6 mo ago; this sector typically re-raises about every 13 months.
Latest round stepped up 27.4× from the prior — scaling.
Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.
Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.
Under-valued
Modeled value is 0.44× the median modeled value of Series D+ Other Technology companies in 2025–2027 (60 peers) — value vs value, same stage and era.
Active
Last raise 6 mo ago; this sector typically re-raises about every 13 months.
Raising on or ahead of the sector's normal rhythm.
Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.
Issuer-vehicle patternmedium confidence
Pax8, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.
Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
14.5 yr record
Peak capital year was 2022 with $190.6M across 4 filings.
Market position
ahead of 99% of Other Technology peers
Capital scale is ahead of 99% of Other Technology peers; modeled value is above 92% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
No clearly named CEO/founder/principal role in the public records surfaced here.
No verified homepage on the profile yet.
Capital program peaked in 2022: $190.6M across 4 filings.
Largest single filing was $185.3M on 2022-03-30.
Filing rows sum to $440.2M, while canonical raised total is $415.0M; likely amendments/superseded rows are mixed into the detail view.
How to read the page
Read this less like a startup funding journey and more like a capital-raising program.
Stage-based valuation and peer labels have lower applicability for this pattern.
The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Canonical filtering should be tightened before using row-level totals for diligence.
Leadership
No named principal in this company's public records yet — see all operators below.
Explore how these operators interlock with other companies in the operator network.
Where it sits in Other Technology
Pax8, Inc. is one of 21302 Other Technology companies tracked from GREENWOOD VILLAGE. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..
Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.
As reported in public records reported — not modeled.
US
Jurisdiction
Rule 506(b)
Reg D exemption
11
Investors (latest)
2025-12-21
First sale
Amount raised vs valuation, by round
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
Amount raised · realModeled valuation · estCumulative funded · real
The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.
Financing ladder & sequence gaps
Pre-Seed$520K · 2011
Seed$2.4M · 2013
Seed extension$1.5M · 2013
Series A$5.0M · 2013
Series A extension$350K · 2014
Series A extension$3.5M · 2014
Series A extension$13.3M · 2019
Series C$41.7M · 2020no Series B on file
Bridge · Series C-stage$21.4M · 2020smaller follow-on
Series C extension$96.0M · 2020
Series C extension$1.2M · 2021
Series D+$185.3M · 2022
Series D+ extension$5.1M · 2022
Series D+ extension$120K · 2022
Series D+ extension$120K · 2022
Series D+ extension$424K · 2025
Series D+ extension$1.6M · 2025
Series D+ extension$200K · 2025
Series D+ extension$2.1M · 2025
Series D+ extension$58.4M · 2025
Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.
Modeled valuation trajectory
$463.6M
Base estimate est.
$324.5M
Conservative case
$544.5M
Upside case
$486.9M
Modeled post-money
Round size and date are reported; the stage label is inferred from round size (latest is Series D+ — a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
0.5 yr
Elapsed time used
0.5 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$29.7M/yr
Capital velocity
14.5 yr
On record since
2011
First round
20
Rounds on file
How it compares to the market
Benchmarked against 21302 companies in Other Technology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Total raised — vs sector median (real $, all stages)▲ 131× above median
This company$415.0M
Sector median$3.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage)▼ 0.5× of median
This company$58.4M
Sector median$115.0M
Modeled value — vs sector median (estimate, all stages)▲ 12× above median
This company$463.6M
Sector median$37.3M
Raised more than 99% of sector peers (real $). Modeled value above 92% of peers (estimate).
Niche peers — same stage & era
A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled valueest. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #53 of 60.
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
Stage
Amount · real
Announced
Post-money · est
Value · est
Conf.
Pre-Seed
$520K
2011-12-30
$2.9M
$22.0M
85%
Seed
$2.4M
2013-03-01
$11.9M
$80.9M
85%
Seed
$1.5M
2013-03-01
$7.5M
$51.1M
85%
Series A
$5.0M
2013-03-01
$23.0M
$140.1M
85%
Series A
$350K
2014-04-08
$1.6M
$9.7M
85%
Series A
$3.5M
2014-12-31
$16.1M
$98.5M
85%
Series A
$13.3M
2019-02-08
$60.5M
$368.9M
90%
Series C
$41.7M
2020-03-03
$278.0M
$1.3B
90%
Series B
$21.4M
2020-03-03
$118.6M
$650.2M
90%
Series C
$96.0M
2020-12-23
$640.0M
$2.6B
90%
Series C
$1.2M
2021-04-30
$7.8M
$28.6M
90%
Series D+
$185.3M
2022-03-30
$1.5B
$3.8B
90%
Series D+
$5.1M
2022-06-30
$42.3M
$97.0M
90%
Series D+
$120K
2022-08-23
$1.0M
$2.2M
90%
Series D+
$120K
2022-09-25
$1.0M
$2.2M
90%
Series D+
$424K
2025-03-21
$3.5M
$4.1M
90%
Series D+
$1.6M
2025-06-27
$13.3M
$14.3M
90%
Series D+
$200K
2025-11-11
$1.7M
$1.6M
90%
Series D+
$2.1M
2025-12-19
$17.8M
$17.0M
90%
Series D+
$58.4M
2025-12-21
$486.9M
$463.6M
90%
What happened at each round
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
Pre-Seed$520K2011-12-30
First recorded raise — entered as Pre-Seed.
8 investors on this round.
Seed$2.4M2013-03-01
Raised 14 mo later, in step with the ~13 mo sector norm.
Round 4.6× larger than the prior — scaling up.
Switched to Rule 506(b) (was Rule 504).
12 investors on this round.
Seed$1.5M2013-03-01
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round 1.6× smaller than the prior — bridge or down round.
Switched to Rule 505 (was Rule 506(b)).
9 investors on this round.
Series A$5.0M2013-03-01
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round 3.4× larger than the prior — scaling up.
Switched to Rule 506(b) (was Rule 505).
19 investors on this round.
Series A$350K2014-04-08
Raised 13 mo later, in step with the ~13 mo sector norm.
Round 14.4× smaller than the prior — bridge or down round.
2 investors on this round.
Series A$3.5M2014-12-31
Raised 9 mo later, in step with the ~13 mo sector norm.
Round 10.1× larger than the prior — scaling up.
9 investors on this round.
Series A$13.3M2019-02-08
Raised again after 49 mo — slower than the ~13 mo sector norm.
Round 3.7× larger than the prior — scaling up.
19 investors on this round.
Series C$41.7M2020-03-03
Raised 13 mo later, in step with the ~13 mo sector norm.
Round 3.1× larger than the prior — scaling up.
36 investors on this round.
Series B$21.4M2020-03-03
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round 2.0× smaller than the prior — bridge or down round.
19 investors on this round.
Series C$96.0M2020-12-23
Raised 10 mo later, in step with the ~13 mo sector norm.
Round 4.5× larger than the prior — scaling up.
17 investors on this round.
Series C$1.2M2021-04-30
Came back fast: 4 mo vs the ~13 mo sector norm.
Round 82.1× smaller than the prior — bridge or down round.
3 investors on this round.
Series D+$185.3M2022-03-30
Raised 11 mo later, in step with the ~13 mo sector norm.
Round 158.4× larger than the prior — scaling up.
16 investors on this round.
Series D+$5.1M2022-06-30
Came back fast: 3 mo vs the ~13 mo sector norm.
Round 36.5× smaller than the prior — bridge or down round.
11 investors on this round.
Series D+$120K2022-08-23
Came back fast: 2 mo vs the ~13 mo sector norm.
Round 42.3× smaller than the prior — bridge or down round.
2 investors on this round.
Series D+$120K2022-09-25
Came back fast: 1 mo vs the ~13 mo sector norm.
Round roughly the size of the prior one.
1 investor on this round.
Series D+$424K2025-03-21
Raised again after 30 mo — slower than the ~13 mo sector norm.
Round 3.5× larger than the prior — scaling up.
Series D+$1.6M2025-06-27
Came back fast: 3 mo vs the ~13 mo sector norm.
Round 3.8× larger than the prior — scaling up.
Series D+$200K2025-11-11
Came back fast: 5 mo vs the ~13 mo sector norm.
Round 8.0× smaller than the prior — bridge or down round.
1 investor on this round.
Series D+$2.1M2025-12-19
Came back fast: 1 mo vs the ~13 mo sector norm.
Round 10.7× larger than the prior — scaling up.
15 investors on this round.
Series D+$58.4M2025-12-21
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round 27.4× larger than the prior — scaling up.
11 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~9mo cadence
$175.3M
Modeled next size est.range $113.9M–$280.5M
27.4×
Last step-up
$29.7M/yr
Capital velocity
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
Key people & operators
Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.
Pax8, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
United States
Country of record
US
Jurisdiction
1539057
SEC CIK
Similar companies
Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.
Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.
Pax8, Inc. has raised approximately $415.0M in disclosed capital across 17 recorded financing rounds, aggregated from public filings.
What is Pax8, Inc.'s estimated valuation?
Provath's modeled valuation for Pax8, Inc. is approximately $463.6M (modeled range $324.5M–$544.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Pax8, Inc. at?
Pax8, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Sun Dec 21.
What does Pax8, Inc. do and where is it based?
Pax8, Inc. operates in the Other Technology sector, based in GREENWOOD VILLAGE.
Explore related
See where Pax8, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
If you work at Pax8, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.