Based between California, Israel and Austria, xtype, a leading software company for multi-instance management on the ServiceNow platform, announced it had raised a €19 million Series A funding round led by Norwest Venture Partners, with participation from ServiceNow Ventures and existing investors including Columbia Capital and Inner Loop Capital. This milestone marks a significant leap forward in xtype’s mission to revolutionize how organizations manage their ServiceNow environments.
With this new capital infusion, xtype will scale its cutting-edge platform, providing organizations with unmatched real-time visibility, governance, and automation for their ServiceNow instances across development, testing, and production. The funding will also fuel the expansion of xtype’s presence globally, ensuring more businesses can take complete control of their ServiceNow environments quickly and precisely.
“We are excited to have the support of such esteemed partners in both the tech and venture capital sectors. Their belief in our vision validates our approach and accelerates our mission to redefine multi-instance management for the ServiceNow platform,” said Ron Gidron, CEO and co-founder of xtype. “This funding validates our vision that multi-instance management is key to helping customers achieve as much value as possible from the ServiceNow platform. Our platform empowers teams to accelerate innovation, remain compliant, and increase productivity by gaining real-time insights into their entire ServiceNow ecosystem while automating complex processes to reduce risk and improve productivity.”
The growing complexity of managing multiple instances has become a critical challenge for mid and large enterprises. As organizations scale, managing version control, update sets, and synchronization across development, testing, and production environments become labor-intensive and error-prone. xtype’s platform solves this problem by offering comprehensive visibility into instance differences, automated synchronization, and governance tools that ensure secure and compliant operations at every stage.
“As a stand-out tool on the ServiceNow platform, xtype delivers immediate ROI through enhanced governance, increased team capacity and release velocity, improved quality and backlog reduction. These strengths have attracted a growing number of Fortune 500 companies to adopt xtype,” commented Dave Zilberman, general partner at Norwest Venture Partners. “But it’s not only the product that is exceptional. The experienced xtype team brings a clear vision for excelling in a large and rapidly growing market. We look forward to working with xtype as they continue to deliver streamlined ServiceNow experiences and captivate new audiences.”
“ServiceNow Ventures is proud to support xtype as the company continues to empower customers to derive as much value as possible from their ServiceNow investment,” added Victor Chang, Vice President of ServiceNow Ventures. “xtype has a deep understanding of the ServiceNow community and differentiated ability to deliver the capabilities they need most – from reducing time to value to improving governance across instances. We look forward to seeing their continued impact.”
Read the orginal article: https://www.eu-startups.com/2024/10/austria-based-xtype-raises-e19-million-to-fuel-innovation-on-the-servicenow-platform/
