XBE, the system of action and superworkforce for heavy materials, logistics and construction, today announced a growth investment from PSG, a leading growth equity firm that partners with software and technology-enabled services companies to capitalize on transformational expansion. Founder and CEO Sean Devine and Banneker Partners will each retain significant ownership positions and Devine will continue to lead the company.
XBE’s strategy remains unchanged: to integrate the physical, commercial, and financial operations of heavy materials, logistics and construction. Its platform helps organizations control processes, scale autonomy, and make continuous improvements.
The partnership adds resources and PSG’s software growth experience to XBE’s founder-led organization. For customers, it will support faster product development, a stronger platform, and a larger, more diverse community. That growth can bring more customer input to shape the product, greater scale to support ambitious innovation and more peers to learn from and collaborate with.
“XBE’s founder-led, customer-driven approach is a major reason we chose to invest,” said Bill Skarinka, Managing Director at PSG.
“Our role is to give Sean and the team greater capacity to extend what is already working by accelerating innovation and helping the XBE customer community grow over the long term,” added PSG Principal Evan Ocko.
The investment comes as XBE is developing products at the fastest pace in its history. In the first quarter of 2026, the company launched Agent XBE, a superworkforce that runs on top of XBE’s system of action and can take work from start to finish. In the second quarter, XBE introduced All-22, the ready-mix dispatch simulation, optimization and autonomy solution built into BCMI Dispatch. Across its platform, XBE has also shipped hundreds of features and enhancements so far in 2026, many shaped by customer usage, feedback, and collaboration. XBE plans to unveil major new products and capabilities at XBE Horizon Live 2026, taking place September 28–30 in San Francisco.
“PSG’s investment gives us more capacity to build on what is already working,” said Sean Devine, Founder and CEO of XBE. “Our customers have trusted us with important parts of their operations, pushed us to improve, and helped build this company. And our team, through sheer dedication and ingenuity, willed XBE into what it is today. The response to Agent XBE and All-22 shows what can happen when our team works closely with customers on the hardest operational problems in the industry. With PSG and Banneker behind us, we can invest more aggressively, move faster, and deliver more value to the people who use XBE every day. A big part of that investment will be in people: we intend to recruit and develop the best talent in the world, and there has never been a better time to join this team.”
Devine began building what became XBE in 2016, and the company marked its tenth anniversary in January 2026. Since Banneker Partners invested in 2024, XBE has expanded its customer base and product footprint, including through the acquisitions of BCMI and Gauge. “XBE has grown substantially since our initial investment while preserving its distinct culture,” said Matt McDonald, Partner at Banneker Partners. “Sean and the team have paired ambitious product development with operational discipline and a deep commitment to customers. We are proud to remain invested and look forward to working with PSG in the company’s next chapter.”
XBE thanks its customers and users for their partnership, its employees for their commitment, and its investors and advisors for the support that made this milestone possible.
Piper Sandler served as exclusive financial advisor to XBE and Banneker Partners, and Orrick, Herrington & Sutcliffe LLP served as the company’s legal advisor. Weil, Gotshal & Manges LLP served as legal counsel to PSG, and RBC Capital Markets, LLC served as its exclusive financial advisor.
About XBE
XBE is the system of action and superworkforce for heavy materials, logistics and construction, serving industry-leading customers across North America. Its unified platform integrates scheduling, dispatch, pricing, financial management, telematics, analytics, and bid forecasting into one cohesive system, enabling contractors and producers to scale with confidence, maximize profitability, and reinvest in growth. Learn more at www.x-b-e.com.
About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 170 companies and facilitated over 550 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv. Learn more at www.psgequity.com.
About Banneker Partners
Banneker Partners invests in growing, mission-critical software businesses to drive sustainable long-term value. Banneker collaborates with management teams through capital, strategic and operational support to enable accelerated growth guided by the focus on enhancing value to the end customers of the software. Learn more at www.bannekerpartners.com.
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