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XOi raises $230M, acquires Specifx to expand its tech for field service technicians
Field service engineers may not be the first group of customers that come to mind when you think about lucrative opportunities in B2B technology. But that
One of the players in that space, XOi — which builds software for maintenance people to snap pictures and quickly access information about the machines they are fixing — announced Tuesday that it’s raised a fresh round of $230 million from KKR to expand its business. Unit prices were too high for the company’s budget-conscious customers, and the form factors were too clumsy when ruggedized to the level they needed to be to stay in one piece on site. “If they looked as cool as his glasses,” CEO and co-founder Aaron Salow said, pointing to his investor, KKR partner Jake Heller, “maybe it would have worked.”
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