Xpanner’s flagship X1 Kit retrofits customers’ existing construction machines with hardware and software that enable autonomous operation, allowing task-specific automation licenses for piling, material handling, trenching and grading. The company sells automation through an AaaS (Automation-as-a-Service) subscription model while some customers remain on a perpetual modular model that pairs one-time X1 Kit purchases with software. Customers include Mortenson, Black & Veatch, and QCells. Originally founded in South Korea in 2020, Xpanner moved its headquarters to Santa Fe Springs, California in 2023. The company reported revenue growth from $3 million in 2023 to $7 million in 2024 and $21 million in 2025, with $8 million in revenue and $1 million in EBIT in Q1 2026, and it is targeting $60 million in ARR by year-end while maintaining gross margins above 80%. Xpanner achieved monthly break-even in 2025 and is on track for full-year profitability, and it is expanding product development and into adjacent construction verticals.

Total raised

$36M

Funding rounds

3

Latest round

Series B

Latest activity

May 2026