Xerox has announced the formation of CareAR, A Xerox Company, which consolidates CareAR, DocuShare and XMPie under a single holding company named CareAR Holdings. CareAR has received a $700 million post-money valuation following a $10 million equity investment from ServiceNow, a leading digital workflow company.
CareAR will be led by Xerox President and Chief Operations Officer Steve Bandrowczak, who will expand his current role to also serve as CareAR’s Chairman, and Sam Waicberg, the original founder of CareAR, who will serve as CareAR’s President.
Combining DocuShare’s content management system, XMPie’s cross-media platform, and Xerox’s PARC Alto AI artificial intelligence engine, the expanded CareAR service experience platform will support service workforces with the visual tools and access to data that are needed to consistently deliver high quality service experiences for service 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 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 augmented reality technology is disrupting the service delivery ecosystem and addressing key sustainability and workforce challenges.