Xyte

Company Overview

Snapshot

Founded in January 2019 by Omer Brookstein and Boris Dinkevich, Xyte operates with 51–200 employees. The company has raised $26.4M across 3 funding rounds from 8 investors. In January 2024, Xyte secured debt financing from BlackRock and an A Round led by Intel Capital.

Business overview

Xyte provides a cloud services management platform designed for hardware manufacturers, system integrators, and in-house AV/IT teams. Its core product, the Xyte Device Cloud, offers a unified interface for managing AV, UC, and intelligent building devices and spaces in the cloud. The Xyte Connect+ ecosystem enables system integrators and dealers to establish or expand managed services, generating recurring revenue through remote issue resolution and comprehensive device monitoring. The platform also allows hardware manufacturers to empower customers and dealers with cloud-based remote monitoring and management solutions, supporting new subscription models and as-a-Service offerings. Xyte operates within the Industrial Technologies sector, focusing on process automation and intelligence systems, and serves industrial manufacturing and enterprise & professional services markets.

Strategic signal

In January 2024, Xyte secured a Series A funding round and debt financing, indicating strong investor confidence in its cloud platform for hardware manufacturers and its as-a-service model. This strategic capital infusion, including participation from Intel Capital and BlackRock, positions Xyte for accelerated growth and further development of its device management and monetization solutions, signaling a significant validation of its market approach and potential for expanding its reach within the industrial technologies sector.

Company Intelligence Q&A

What was a significant recent funding event for Xyte?

In January 2024, Xyte secured debt financing from BlackRock and an A Round led by Intel Capital.

When did Xyte introduce its Connect platform?

In November 2023, Xyte introduced Connect, a unified environment designed for connectivity and collaboration among manufacturers, channel partners, and end-users.

What strategic program did Xyte complement its CDMP with in late 2023?

In November 2023, Xyte complemented its Connected Device Management Platform (CDMP) with an equipment financing program.

What was Xyte's involvement with Intel Innovation 2022?

In September 2022, Xyte, an Intel Ignite alum, presented its as-a-service cloud platform and vPro support at Intel Innovation 2022.

When did Xyte announce Randy Klein's appointment to its advisory board?

In June 2022, Randy Klein joined Xyte's advisory board, bringing significant experience from the AV industry.