xtype raises $5.8m seed to accelerate ServiceNow app development for enterprises
TEL AVIV, Israel, Sept. 14, 2022 -- xtype, the DevOps platform that accelerates ServiceNow app development, announced today $5.8 million in seed funding in a round led by Columbia Capital with participation from Inner Loop Capital and SaaS Ventures. The company will use the funds to accelerate its product roadmap by growing the development team, as well as increase its presence in the US market, expanding its sales and customer success teams.
As enterprises undergo digital transformation, the need for business apps has skyrocketed. According to a recent report, Gartner expects that 70% of new applications developed by enterprises will use low-code or no-code technologies by 2025. Enterprises widely use ServiceNow's application development platform as it enables the rapid development of robust and secure apps. However, as applications built using low-code technologies take on an increasingly important role in supporting business-critical functions, there is a need for modern DevOps practices to be adopted.
"ServiceNow is the most robust platform for managing IT and developing enterprise applications," said Ron Gidron, founder and CEO of xtype. "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."
xtype's deployment and release automation platform dramatically increase enterprises' ability to deliver new features and applications on ServiceNow. The platform boosts the productivity of development teams and reduces the number of errors and escalations by combining modern DevOps practices with advanced automation and synchronization technology. Using xtype, app releases are automated, and new versions are deployed with a single click, allowing teams to adopt a Continuous Delivery approach. Additionally, the platform provides 360° real-time command and control of an organization's ServiceNow ecosystem that prevents unwanted changes from being included in a release and provides cross-instance transparency on what's been updated, where, and by whom.
"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."
"Hundreds of millions of business apps will be built in the next few years alone to support digital transformation efforts of enterprises," said Jason Booma, Partner at Columbia Capital. "Traditional software development cannot meet this demand, and we see solutions like ServiceNow continuing to play a key role in addressing 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."
xtype, a deployment and release automation platform native to ServiceNow, was founded in 2020 by Ron Gidron, Peter Szulman, and Tobias Stanzel. The platform is already used by dozens of leading enterprises and technology companies, including HP, Zurich Insurance, Bank of Montreal, and Playtika.