Xyte

Company Overview

Snapshot

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

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 platform enables system integrators and dealers to establish recurring revenue streams through managed services, remote issue resolution, and comprehensive device monitoring. Xyte serves the industrial technologies sector, helping AV and IT departments gain visibility over their device fleets, reduce downtime, and improve operational efficiencies, while also empowering hardware manufacturers with cloud-based remote monitoring and management solutions and new subscription models.

Strategic signal

In January 2024, Xyte raised $20 million in Series A funding and secured an additional $10 million in debt financing from BlackRock. This significant capital infusion, alongside strategic investments from Intel Capital, indicates strong investor confidence in Xyte's vision to transform hardware manufacturing into a services-led model, providing a robust signal of market validation and accelerated growth potential for its cloud-based device management platform.

Company Intelligence Q&A

What significant funding did Xyte announce in January 2024?

In January 2024, Xyte raised $20 million in Series A funding from investors including Intel Capital.

When was Xyte founded and by whom?

Xyte was founded in January 2019 by Omer Brookstein and Boris Dinkevich.

What is Xyte's primary offering for hardware manufacturers?

Xyte offers a cloud-based remote monitoring and management solution that allows hardware manufacturers to connect their products to the cloud, support devices remotely, and introduce premium feature upgrades, license entitlements, and as-a-Service offerings.

What is the Xyte Connect+ ecosystem?

The Xyte Connect+ ecosystem enables system integrators and dealers to launch or expand their managed services business, creating recurring revenue streams through remote issue resolution and comprehensive device monitoring.

What was a key strategic development for Xyte in June 2022?

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