About CareAR
CareAR is an augmented reality platform that equips service teams with real-time expert guidance for customers, employees, and field technicians. Acquired by ServiceMax in 2021, it enhances support through visual instructions and remote assistance in industries like manufacturing and utilities.
Founded
2018
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$700M (Sep 2021)
Sectors
CareAR Acquisition
CareAR was acquired by Xerox for $9M on 28 January 2021.
Before the acquisition CareAR had raised $10M across 1 funding round.
Xerox Holdings Corporation acquired CareAR, Inc., an augmented reality support platform company providing real-time access to expertise for customers, employees, and field workers via desktop, mobile, and smart glass devices, on January 28, 2021. The acquisition expanded Xerox's software portfolio, combining CareAR with DocuShare and XMPie to address content management, digital transformation, and personalized communications needs. CareAR's platform integrates with ServiceNow for end-to-end work orders, cases, and incidents, enabling remote visualization and troubleshooting to modernize field service, customer support, and IT services. The deal was for $9 million for 100% ownership, as reported in Xerox's SEC filing. Later, in September 2021, Xerox formed CareAR Holdings, consolidating CareAR, DocuShare, and XMPie, which received a $10 million investment from ServiceNow at a $700 million post-money valuation. This investment reflected belief in CareAR's potential for enterprise-grade augmented reality, reducing on-site visits and emissions through remote resolutions. Partnerships with ServiceNow and Deloitte aimed to integrate CareAR into operations for joint clients.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 28 Jan 2021 | Strategic M&A | $9M |
CareAR Valuation
CareAR is currently valued at $700M, based on its strategic investment round in September 2021.
The $10M round was led by ServiceNow.
CareAR valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Strategic investment | $700M |
CareAR Funding History
CareAR has raised a total of $10M across 1 funding round.
CareAR funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Strategic investment | ServiceNow (lead) | $10M | $700M | CareAR is a Xerox-owned augmented reality platform that provides real-time access to expertise for field service, support, and workforce training. The platform combines augmented reality technology with predictive AI and serves service-intensive industries including Nordstrom, Verizon, Allstate, FedEx, State Farm, NTT Data, and Marriott. In September 2021, CareAR raised $10 million in equity funding from ServiceNow, a major enterprise software platform, at a $700 million post-money valuation. The funding was used to extend CareAR's reach beyond existing customers and supported the consolidation of CareAR, Inc. with DocuShare and XMPie under a single holding company. According to Xerox leadership, the platform delivers real-time instruction, visual tools, and data access driven by predictive artificial intelligence, enabling service teams to solve problems remotely and improve operational efficiency while reducing costs and employee safety risks. |
Who has invested in CareAR?
1 investor has backed CareAR across its funding rounds, including ServiceNow.
Lead investors include ServiceNow.
CareAR Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 CareAR investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by CareAR
CareAR has acquired 1 company to date.
Last acquisition by CareAR was on January 11th 2022. CareAR acquired MagicLens for undisclosed valuation.
Latest Acquisitions by CareAR
| Description | - |
| HQ Country | - |
| HQ City | - |
| Deal Date | 11 Jan 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all CareAR acquisitions and their M&A valuation multiples. Start Free Trial | |
CareAR Competitors
CareAR competitors include listed companies like Cover, Dexterra Group and Johnson Service Group, and private ones like FMX, BetterPlace and DeePoon.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $317M | $34M | $677M | 1.9x | ||
| Private | - | - | $667M | - | ||
| Publicly listed | $746M | $78M | $650M | 1.0x | ||
| Publicly listed | $719M | $215M | $650M | 1.3x | ||
| Private | $100M | - | $600M | 6.0x | ||
| Private | - | - | $830M | - |
CareAR Public Comps
CareAR is no longer listed, but its public comps include Cover, Dexterra Group, Johnson Service Group, Restore, Kopin, Coor Service Management, Mestek, BrightView, Matrix Design Co. and K-Bro Linen.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $317M | $34M | 1.9x | 1.9x | 17.6x | 9.8x | |||
| $746M | $78M | 1.1x | 1.0x | 10.5x | 8.5x | |||
| $719M | $215M | 1.3x | 1.3x | 4.2x | 3.9x | |||
| $409M | $92M | 2.2x | 2.0x | 9.8x | 7.1x | |||
| $38M | $3M | 22.2x | 15.6x | 338.7x | (97.7x) | |||
| $1.3B | $82M | 0.6x | 0.6x | 8.8x | 7.9x | |||
| $329M | $29M | 1.5x | - | 16.8x | - | |||
| $2.7B | $307M | 0.9x | 0.9x | 8.0x | 7.2x | |||
This data is available for Pro users. Sign up to see all CareAR competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CareAR
| When was CareAR founded? | CareAR was founded in 2018. |
| Where is CareAR headquartered? | CareAR is headquartered in Austin, TX, United States. |
| Is CareAR publicly listed? | No, CareAR was acquired by Xerox in January 2021. |
| Who acquired CareAR? | CareAR was acquired by Xerox in January 2021. |
| How much was CareAR acquired for? | CareAR was acquired for $9M in January 2021. |
| What is CareAR's valuation? | CareAR was last valued at $700M in its strategic investment round in September 2021. |
| How much funding has CareAR raised? | CareAR has raised $10M across 1 funding round. |
| What was CareAR's last funding round? | CareAR's last funding round was a $10M strategic investment round in September 2021, led by ServiceNow. |
| Who are CareAR's investors? | CareAR's investors include ServiceNow. |
| Which companies are comparable to CareAR? | Companies comparable to CareAR include Cover, FMX, Dexterra Group, Johnson Service Group, BetterPlace and DeePoon. |
| How many companies has CareAR acquired? | CareAR has acquired 1 company, including MagicLens. |
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