The platform that combines Xerox’s content management system DocuShare and multichannel marketing service XMPie with augmented reality tools, CareAR, has closed a $10 million funding deal. The round, led by ServiceNow, valued the company at $700 million post-money. The funds would be used to upscale the company’s operations and support future product development, as per a statement from ServiceNow’s John Ball.
“Our customers have never more urgently needed workflows that deliver greater operational efficiencies, better customer and environmental outcomes, and improved safety,” said Ball.
“Our investment reflects our belief that CareAR has the potential to deliver world-class, enterprise-grade augmented reality (AR). Customers using CareAR’s AR to route work through ServiceNow’s leading workflow platform can better solve problems remotely, speeding resolution times and reducing the need for expensive on-site visits … Together, we’re delivering powerful enterprise service experiences for the new world of work.”
CareAR was started back in 2018 as an AR company focused on field service work and was acquired by Xerox in January this year. At the time of acquisition, Xerox had planned to amalgamate the “care experience management” startup’s software with DocuShare and XMPie to create a new business unit.
CareAR’s platform currently serves over 10,000 customers, including Allstate, Nordstrom, Staples, and Verizon. It enables the agents to observe what the users can see for real-time troubleshooting. The platform provides AI-powered AR visual assistance and guidance tools to the technicians, while the IT service staff get a portal from which they can remotely resolve incidents.
Companies can deploy CareAR to create AR-based instructions for self-guided and animated step-by-step flows. In addition, the platform can also provide insights into specific assets, issues, and resolutions.
John Visentin, Xerox Vice-Chair and CEO, believes that the service experience management stands at about $80 billion.
“Xerox has positioned CareAR to deliver capabilities that service-intensive industries need, with real-time instruction, visual tools, and access to data at the tip of any user’s fingertips, all driven by predictive artificial intelligence,” Visentin said. “By creating a platform that is intuitive to a digitally native workforce, and with investment from ServiceNow, we believe CareAR will define and grow the Service Experience Management category, disrupting industries at a time when it’s needed most.”
Follow us on LinkedIn
Read other Articles