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Tech

US tech company sees 800% growth after moving European HQ to Bristol

Pax8 is planning to create up to 150 jobs in the city in the next four to five years, it said

Pax8 moved to the West Country 18 months ago(Image: Ben Gregory-Ring / BGR Photography)

A global technology company has said it's achieved 800% year-on-year growth since choosing Bristol as its European headquarters.

Pax8, which moved into the West of England 18 months ago, has created a marketplace for IT professionals to buy cloud-based technology products and has achieved so-called 'unicorn' status, meaning it is now valued at more than $1bn.

The company is expecting to create 100 to 150 new jobs over the next four to five years.

Cole Knuth, chief revenue officer at Pax8 EMEA, said: “We’re so proud to say we started our European Journey in Bristol. There is so much creativity in this city, and that’s been shown through the quality of new talent we’re hired over the past 18 months."

The business is planning to develop relationships with "key stakeholders" in the South West tech community as it grows, it said.

“We’re grateful for the support we’ve received from local government, who have endorsed our vision and desire to create jobs in the local economy," added Mr Knuth.

Dr Patricia Greer, chief executive of the West of England Combined Authority (Weca) and Local Enterprise Partnership (LEP), said the company's growth was “testament to the wealth of innovation and digital expertise" in the South West.

"I’m proud of the members of the combined authority’s inward investment arm, Invest Bristol & Bath, who played a key role with helping the company to launch in the 海角视频," said Dr Greed. "Their role was instrumental in connecting Pax8 with significant organisations including the Department for International Trade, expanding its network and visibility."