New CareAR Service Experience Management Platform valued at $700 million (£511,000,000) and attracts $10 million investment from ServiceNow.
Xerox Holdings Corporation announced the formation of CareAR, A Xerox Company, which consolidates CareAR, Inc., DocuShare and XMPie under a single holding company named CareAR Holdings. CareAR received a $700 million (£511 million) post-money valuation following a $10 million (£7,302,000) equity investment from ServiceNow, the leading digital workflow company that makes work, work better for people.
CareAR will hold Steve Bandrowczak as the Chairman, who currently takes position as Xerox President and Chief Operations Officer. The original founder of Care, Inc., Sam Waicberg will then serve as the President for CareAR.
Combining DocuShare’s content management system, XMPie’s cross-media platform, and Xerox’s PARC Alto AI artificial intelligence engine, the CareAR service experience will support workforces with the visual tools and data access to consistently deliver high-quality service experiences for employees and end-customers, all while lowering the operating costs and greenhouse gas emissions of service providers.
The backbone of the new CareAR platform is the augmented reality (AR) technology Xerox gained through the acquisition of CareAR, Inc., announced earlier this year, which integrates with ServiceNow Field Service Management and allows service technicians to tap into the knowledge of more experienced technicians through live, AR assisted instruction.
CareAR’s service experience management platform is designed to be industry agnostic and integrates seamlessly with digital workflow leader ServiceNow’s platform, ensuring an end-to-end approach to work orders, cases, and incidents, and delivering high-quality customer outcomes and service experiences for enterprises across multiple industries.
The company’s AR technology is addressing key workforce challenges. Primarily the retiring workforce, where service organisations will no longer be able to rely on the apprenticeship-based training that sustained businesses for decades. CareAR will help leverage and optimise experienced employees’ time and allow less experienced workers to draw on the knowledge curated by CareAR’s predictive AI capabilities. CareAR will also support service employers’ sustainability goals, facilitating remote preventative and maintenance-based actions. Thereby, reducing technician dispatches, which results in lower carbon emissions for organisations. And better-informed employees make for a safer workplace.
John Visentin, Xerox Vice Chairman and CEO, comments: “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. 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.”
John Ball, Senior VP of Customer Workflows at ServiceNow, also adds: “Customers using CareAR’s augmented reality 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, which also reduces carbon emissions dramatically. Together, we’re delivering powerful enterprise service experiences for the new world of work.”
Learn more at CareAR.com, xerox.com
