Scandit secures $80M in series C round

Scandit has previously raised $43 million and since then the startup has tripled recurring revenues, more than doubled the number of blue-chip enterprise customers and doubled the size of its global team. The new funding from G2VP, Atomico, GV, Kreos Capital, NGP Capital, Salesforce Ventures and Swisscom Ventures will further accelerate growth in new markets such as APAC and Latin America, as well as expand its footprint and operations in North America and Europe. The newly obtained funds will also support continued R&D to develop new ways for how enterprises can transform their core business processes using computer vision and AR.

The Zurich-based startup enables companies to accelerate their digital transformation by blending the physical world with relevant digital information. Organizations in retail, transport & logistics and manufacturing use Scandit’s computer vision technology to create and power mobile apps or websites for mobile shopping, self-checkout, inventory management, proof of delivery, asset tracking and maintenance. In healthcare, Scandit supports digital health, with healthcare workers using familiar smartphones to scan patient IDs, samples, medication and supplies. The barcode scanning solutions help save time and cost on operations in any industry, empowering employees and improving customer engagement and satisfaction.

The company serves global customers including 7-Eleven, Alaska Airlines, Carrefour, DPD, FedEx, Instacart, Johns Hopkins Hospital, La Poste, Levi Strauss & Co, Mount Sinai Hospital and Toyota, and perform tens of billions of scans every year on 100+ million active devices.

Rapid digital transformation in uncertain times
The need for social distancing post-COVID-19 has accelerated demand for mobile computer vision on personal smart devices, as companies seek to create a safer contactless environment for their employees and customers. Retailers and transport & logistics companies are also discovering that they can scale up faster to meet the soaring demand for Click and Collect and the millions of extra home deliveries, by providing workers with scanning apps on BYOD (bring your own device) or COPE (corporate-owned, personally enabled) smart devices. Scandit is helping its customers rapidly ramp up these services.

“Our new funding makes it possible for us to help even more enterprises to quickly adapt to the new demand for ‘contactless business’, and be better positioned to succeed, whatever the new normal is”, Samuel Mueller, CEO of Scandit.

“Scandit’s platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware,” said Ben Kortlang, General Partner at G2VP. “This bridge between the physical and digital worlds will be increasingly critical as the world accelerates its shift to online purchasing and delivery, distributed supply chains and cashierless retail.”

(Press release / RAN)