SoftBank Vision Fund 2 leads Pax8's $185M funding round

Pax8 Inc. raised $185 million in equity capital in a funding round led by SoftBank Investment Advisers (UK) Ltd.'s SoftBank Vision Fund 2.

The round brought the company's valuation to $1.7 billion.

Blue Cloud Ventures, Catalyst Investors LLC, Liberty Global Ventures Holding BV and Sageview Capital LP also participated in the funding.

Pax8 operates a platform that offers unified cloud management services. It will use the fresh capital to accelerate innovation and expand into new markets.

As part of the transaction, Kristin Bannon, an investment director at SoftBank Investment Advisers, will join Pax8 Inc.'s board of directors.