Scandit raised $80 million in Series C-related funding led by G2VP, and joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures, to further accelerate growth in new markets such as APAC and Latin America, as well as expand Scandit’s footprint and operations in North America and Europe. It will also support continued R&D to develop new ways enterprises can transform their core business processes using computer vision and augmented reality (AR).
Since the last funding round in July 2018, Scandit has tripled recurring revenues, more than doubled the number of blue-chip enterprise customers and doubled the size of its global team.
Scandit is a unique computer vision and machine learning platform combining barcode scanning, text recognition (OCR), object recognition and AR for any camera-equipped smart device, including smartphones, drones, wearables and robots.
Scandit enables companies to accelerate their digital transformation by blending the physical world with relevant digital information. Organizations in retail, transport and 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 smartphones to scan patient IDs, samples, medication and supplies.
"Scandit's platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware," says 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."
“COVID-19 has shone a spotlight on the need for rapid digital transformation in these uncertain times, and the need to blend the physical and digital plays a crucial role,” says Samuel Mueller, CEO of Scandit. “The smartphone is a personal tool that can be deployed with powerful computer vision software to seamlessly interact with everyday objects and display real-time insights with AR-overlays. 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.”
