Tel Aviv, Israel-based DevOps platform accelerating ServiceNow app development, xtype raised USD 5.8 million in latest funding. The company announced the seed round on September 14, 2022. Columbia Capital led the financing for the firm. Inner Loop Capital and SaaS Ventures also joined in the investment.
Purpose of financing for xtype
The company intends to invest the new proceeds from seed funding to accelerate its product roadmap. It seeks to expand its development team.
Moreover, xtype has plans to increase its presence in the US market. Besides, the company aims to expand its sales and customer success teams.
What the co-founder has to say
Ron Gidron, founder and CEO of xtype, said, “ServiceNow is the most robust platform for managing IT and developing enterprise applications. However, without the agility that modern DevOps brings, it can take weeks or months to deploy ServiceNow updates. Manual deployment processes create inefficiencies, delaying releases and leading to costly errors. It’s common practice for releases to be scheduled and performed during off-hours in anticipation of downtime.”
He further added, “xtype helps development teams get the most out of the ServiceNow platform,” Gidron said. “Moving from manual release processes managed in spreadsheets and documents to a fully automated CI/CD pipeline enables our customers to go from deploying every few weeks to multiple times a day. We see this creating a positive feedback loop for our users, with a wide-ranging impact on everything from reducing merge conflicts and cutting deployment times to increasing development quality and boosting employee satisfaction.”
What the investor has to say
Jason Booma, Partner at Columbia Capital, said, “Hundreds of millions of business apps will be built in the next few years alone to support digital transformation efforts of enterprises. Traditional software development cannot meet this demand, and we see solutions like ServiceNow continuing to play a key role in addressing the critical needs of the world’s largest enterprises. xtype provides tremendous value by meeting enterprises where they are and dramatically enhancing their ability to build digital tools and products on their platform of choice. Acting as a force multiplier for companies by boosting their development teams’ productivity means xtype gives its customers a decisive competitive edge.”
About the company
Ron Gidron, Peter Szulman, and Tobias Stanzel launched the company in 2020. xtype serves as deployment and release automation platform native to ServiceNow. Leading business giants and technology companies such as HP, Zurich Insurance, Bank of Montreal, and Playtika use xtype’s platform.
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