Zürich-based smart data capture firm Scandit has raised $150 million in a Series D funding round, now providing the company with a valuation north of $1 billion. The funding will be used to further develop the company’s computer vision and augmented reality technologies and drive further global expansion efforts, particularly in the APAC region, including Japan, Singapore, and South Korea. Since 2009 the company has raised approximately $273.1 million.
With over 1,700 customers spanning the globe including household names such as American Eagle Outfitters, Carrefour, FedEx, Levi Strauss & Co., Yamato Transport, and Sephora, the name Scandit and ubiquitous are quickly becoming synonymous.
The company’s computer vision technology enables mobile devices to capture data from barcodes, text, IDs, and objects and automates a number of processes, while at the same time, generating insights and analytics that bolster customer engagement and increase worker productivity.
Since May 2020, Scandit has seen ARR numbers more than double and is the provider of choice to the top five global courier companies and eight of the top ten U.S, grocers. During the pandemic, Scandit has served as a valuable asset to a number of national health organizations such as the NHS in the UK, supporting Covid-19 programs and initiatives.
“By following our original vision of using the camera on smart devices to interact with physical items, we are transforming the daily lives of customers, employees and businesses to enable enhanced, personalized experiences and achieve their digital transformation ambitions,” commented CEO Samuel Mueller. “The new funding will allow us to help more businesses globally and to better empower an evolving mobile workforce, meet new customer expectations and deliver increasingly automated operations.”
Scandit’s $150 million Series D round was led by global private equity house Warburg Pincus, and saw existing investors Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV, and Swisscom Ventures all followed on.
‘’Already used by leading enterprises across multiple industries, by customers and end-users all over the world, we see a huge opportunity for Scandit to cement its position as the global leader in smart data capture. We are excited to have the opportunity to partner with the team at Scandit on the next phase of their ambitious growth strategy,’ concluded Warburg Picus’ managing director Flavio Porciani.