NASHVILLE, Tenn. — XOi Technologies, a Nashville-based provider of field service communication solutions, announced the completion of its Series C financing round. The $11 million round was led by PeakSpan Capital with participation by Grotech Ventures, as well as Series B investors, Vocap Investment Partners, and Nashville Capital Network.
“We started XOi Technologies after living through major communication and workforce optimization issues in our prior manufacturing and construction businesses,” said XOi Technologies CEO Aaron Salow. “Digging deeper, we learned that the real threat was the growing skilled trades gap. Experienced techs are retiring, and that experience isn’t being replaced fast enough. Field service companies are asking, ‘How do we survive, much less grow, in a skilled trades shortage?’ That question is what drives us every day.”
“Getting to this inflection point in the business would not have been possible without the endless hard work from our team, assistance from our investors, and amazing and unwavering support from our partners and customers,” Salow added. “It’s thanks to them that we’ve been able to grow our revenue 100% every year since 2016.”