{"id":809479,"date":"2025-02-05T16:37:15","date_gmt":"2025-02-05T21:37:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition\/"},"modified":"2025-02-05T16:37:15","modified_gmt":"2025-02-05T21:37:15","slug":"xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition\/","title":{"rendered":"XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition"},"content":{"rendered":"

<\/p>\n

XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition<\/b><\/p>\n

The intelligent jobsite technology innovator secures record funding from KKR to expand data gathering and enrichment solutions.<\/i><\/p>\n

NASHVILLE, Tenn.–(BUSINESS WIRE<\/a>)–XOi<\/a>, a leading provider of jobsite-focused technology solutions for the field service ecosystem, today announced the acquisition of Specifx<\/a>, an on-demand data enrichment and metadata retrieval platform for field service equipment. The acquisition was enabled by an investment from funds managed by leading global investment firm KKR<\/a>. The funding from KKR marks the most significant milestone yet in XOi\u2019s journey to build out its system of work for the field service ecosystem.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250205554490\/en\/<\/a><\/p>\n

\nThis strategic investment from KKR, along with the acquisition of Specifx, enable XOi to amplify its use and capabilities across the field service industries, furthering its mission of serving stakeholders throughout the ecosystem, including technicians, field service providers, distributors, and OEMs.<\/p>\n

\n\u201cAs the challenges of maintaining and manufacturing field service equipment grew more complex, we pushed ourselves to evolve our product alongside the demands of the industry,\u201d said Aaron Salow, founder and CEO of XOi. \u201cKKR\u2019s strategic partnership will help us meet and exceed every stakeholder’s expectations of sustainability, profitability, and transparency.\u201d<\/p>\n

\n\u201cWe believe XOi\u2019s comprehensive software stands apart in the field service space not only because it allows technicians to view and adjust multiple workflows in one efficient platform, but also for its ability to normalize and enrich field service asset-specific data,\u201d said Jake Heller, Partner and Head of KKR\u2019s Technology Growth team in the Americas. \u201cThe addition of Specifx further enhances XOi\u2019s database offering. We look forward to working with the entire XOi team as they continue to innovate for their customers across the field service ecosystem.\u201d<\/p>\n

\nPrior to this acquisition Specifx helped expand XOi\u2019s groundbreaking Insights<\/a> product, which provides unique asset origination, performance, and diagnostics information. Now, the combined resources and capabilities of the two companies empower XOi to deliver a unified framework of proprietary and operational data to fuel faster and more meaningful innovation to the mechanical, electrical, and plumbing industries.<\/p>\n

\n\u201cToday marks a defining moment in our growth and we are thrilled to join forces with XOi,\u201d said Ryan Martineau, founder and CEO of Specifx. \u201cXOi\u2019s extremely impressive platform, coupled with a shared mission and common customer base, allows us to accelerate our vision of next generation, asset-centric solutions that simplify the day-to-day operations for our customers.\u201d<\/p>\n

\n\u201cWe are humbled by the role we have been able to play in changing this industry and the skilled trades for the better, and we are excited to drive the mission forward for years to come,\u201d said Aaron Salow, founder and CEO of XOi. \u201cOur vision has never been clearer, and our passion for the trades has never been stronger.\u201d<\/p>\n

\nKKR is funding this investment primarily from its Next Generation Technology III Fund.<\/p>\n

\nBass, Berry & Sims PLC served as legal advisor and Raymond James Financial, Inc. served as financial advisor to XOi. Latham & Watkins LLP served as legal advisor to KKR.<\/p>\n

About XOi
\n
<\/b>XOi, the leading provider of jobsite-focused technology for the field service ecosystem, arms the industry with a digital tool that connects people to mission-critical equipment. XOi technology is the hub in which every part of the job\u2014from the field to the manufacturer\u2014connects. XOi provides AI-powered workflows, asset and team management functions, a comprehensive knowledge base, and immediate revenue-producing insights leveraging data from current and historical projects. Beyond this tool that manages consistency, profitability, and transparency, XOi\u2019s goal is to create future-focused technology that modernizes the field service industry as a whole, and delivers 1 of 1 asset origination, performance, and diagnostics information of mission critical assets. To learn more about XOi, visit xoi.io<\/a>.<\/p>\n

About KKR
\n
<\/b>KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR\u2019s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at www.kkr.com<\/a>. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group\u2019s website at www.globalatlantic.com<\/a>.<\/p>\n

About Specifx
\n
<\/b>Specifx, an industry leader in data management for HVAC companies, specializes in on-demand data enrichment and metadata retrieval for HVAC companies. The company\u2019s flagship product, Decoder, gives technicians, HVAC providers and manufacturers access to complete HVAC metadata via a simple nameplate scan, and the tool gives users the flexibility to scan each unit individually, in batches, or via the Decoder API. Specifx\u2019s database covers the most common HVAC equipment made by around 100 major manufacturers over the past 30+ years. Specifx\u2019s mission is to transform the HVAC data acquisition and solutioning experience for owners, occupiers, investors and service providers, reducing the effort to acquire essential information for day-to-day operations while supporting strategic, enterprise-scale investment and decarbonization initiatives. For more information about Specifx, visit specifx.com<\/a>.<\/p>\n

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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250205554490\/en\/<\/a><\/span><\/p>\n

Media Contacts: <\/b><\/p>\n

X<\/b>Oi
\n<\/b>
Heather Ripley
\n
Ripley PR
\n
(865) 977-1973
\n
hripley@ripleypr.com<\/a><\/p>\n

KKR
\n<\/b>
Emily Cummings
\n
media@kkr.com<\/a><\/p>\n

KEYWORDS:<\/b> Tennessee United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Data Management Technology Manufacturing Professional Services HVAC Asset Management Data Analytics Software Artificial Intelligence Fintech Finance<\/p>\n

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XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition The intelligent jobsite technology innovator secures record funding from KKR to expand data gathering and enrichment solutions. NASHVILLE, Tenn.–(BUSINESS WIRE)–XOi, a leading provider of jobsite-focused technology solutions for the field service ecosystem, today announced the acquisition of Specifx, an on-demand data enrichment and metadata retrieval platform for field service equipment. The acquisition was enabled by an investment from funds managed by leading global investment firm KKR. The funding from KKR marks the most significant milestone yet in XOi\u2019s journey to build out its system of work for the field service ecosystem. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250205554490\/en\/ This strategic investment from KKR, along with … <\/p>\n

Continue reading “XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-809479","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nXOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition The intelligent jobsite technology innovator secures record funding from KKR to expand data gathering and enrichment solutions. NASHVILLE, Tenn.–(BUSINESS WIRE)–XOi, a leading provider of jobsite-focused technology solutions for the field service ecosystem, today announced the acquisition of Specifx, an on-demand data enrichment and metadata retrieval platform for field service equipment. The acquisition was enabled by an investment from funds managed by leading global investment firm KKR. The funding from KKR marks the most significant milestone yet in XOi\u2019s journey to build out its system of work for the field service ecosystem. This press release features multimedia. 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