Scandit, an Enterprise barcode scanner firm that is the global leader in smart data capture, has raised $150 million in a Series D fundraising round, valuing the firm at more than $1 billion. Warburg Pincus, a major global growth investor with a track record of effectively expanding high-growth firms, notably in B2B software, led the fundraising round.
Scandit’s current shareholders, including Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV1 and Swisscom Ventures, participated heavily in the investment round, which was greatly oversubscribed.
In the previous year,
Scandit raised an $80 million Series C round, which brings the total valuation up to $123M, and this funding round led by led by Silicon Valley VC firm G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures, Swisscom Ventures, silicon valley vclomastechcrunch.
Scandit has funded about $300 million to date to fund its global expansion, allowing smart devices to capture data on the edge from barcodes, text, IDs, and objects using computer vision, automating processes and providing insights that improve consumer interaction and worker efficiency.
The Scandit company has more than doubled its yearly recurring income since its Series C fundraising round in May 2020, and now has over 1700 global customers, including Carrefour, FedEx, Levi Strauss & Co., Yamato Transport, and Sephora.
Scandit has increased its market share in its primary verticals of retail, transportation and logistics, healthcare, and manufacturing, and is now trusted by three of the top five global courier companies and eight of the top ten US supermarkets. Scandit has also been offering data capture services to national health organisations, such as the NHS in the United Kingdom, to support Covid-19 programmes and activities during the pandemic.
Scandit intends to use the new funds to expand its global reach and team, with an emphasis on APAC, which includes Japan, Singapore, and South Korea. Scandit’s worldwide distributed staff has grown by 85 per cent since the Series C funding, with ambitions to grow by another 50 per cent by the end of 2022. The money will also go into expanding and innovating in the company’s main areas.
Scandit’s R&D will also be accelerated as a result of the funding, which will focus on AI/ML capabilities and autonomous data gathering methodologies in order to develop organisations’ key business operations. Scandit’s Smart Data Capture technology will enhance users’ intelligence and decision-making, resulting in faster, more accurate, and automated outcomes on smartphones, wearables, and robots.
Smart Data Capture is Transforming Businesses
Employee and consumer expectations continue to rise, accelerated by the epidemic, with a demand for more digital experiences. To solve continued labour shortages, the rise of gig economy workers, and empower existing staff, businesses must handle shifting workforce dynamics. To address these new needs, firms must automate processes, gather fresh intelligence, and boost efficiencies.
Traditional data capturing tools, such as those allowed by general-purpose scanners, have failed to fulfil such demands. Scandit Smart Data Capture enables enterprises to address these new challenges with unmatched speed, accuracy, and intelligence, whether it’s to digitally enable the mobile workforce or to improve supply chain visibility, omnichannel fulfilment, store operations efficiency, or asset tracking and maintenance.
We see a significant opportunity for Scandit to solidify its position as the global leader in smart data capture, as it is already used by top organisations across numerous industries, as well as customers and end users all over the world. We’re thrilled to have the chance to work with the Scandit team on the next chapter of their ambitious expansion strategy.”
“We are transforming the daily lives of customers, employees, and businesses to enable enhanced, personalised experiences and achieve their digital transformation ambitions by following our original vision of using the camera on smart devices to interact with physical items,” said Samuel Mueller, CEO of Scandit.
The additional funds will enable us to assist more organisations around the world, as well as better empower an increasingly mobile workforce, meet new customer demands, and offer increasingly automated processes. We are ecstatic to have Warburg Pincus as a partner in our next chapter of expansion. They have a comprehensive understanding of our business and software growth investing, as well as a lengthy history of backing successful companies.”
Scandit debuted ShelfView, a smart data capture and analytics solution for retail shelf management, last month as an example of its innovation. ShelfView captures SKU-level product data via mobile devices and autonomous robots, leveraging augmented reality, object recognition, optical character recognition, and other innovative computer vision technology. This allows for constant shelf visibility and empowers more intelligent shelf management.
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- Scandit Launches ShelfView: Intelligent and Autonomous Shelf Management for Retailers
- Hear why Warburg Pincus invested in Scandit
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We’re the industry leader in smart data capture, offering employees, customers, and organisations superpowers through unrivalled speed, accuracy, and intelligence. Smart devices, such as smartphones, drones, digital eyewear, and robots, can take data from barcodes, text, IDs, and objects to automate and deliver insights for end-to-end operations using the Scandit Smart Data Capture platform.
Scandit scans data three times faster than specialised scanners in difficult light or at angles, on damaged labels, across multiple codes, and on any smart device. Scandit promotes innovation that saves money, improves employee retention, and boosts consumer loyalty. We work with customers at every stage of the process, including trials, solution design, integration, and customer success support. Learn why market leaders in retail, transportation and logistics, healthcare, and manufacturing, such as Instacart, Levi’s Strauss, Sephora, NHS, and FedEx, trust us at scandit.com.
Warburg Pincus is a private equity firm based in New York City. Warburg Pincus LLC is one of the world’s premier growth investors. The firm is in charge of more than $73 billion in assets. The firm’s active portfolio, which includes over 235 firms, is unusually diverse in terms of stage, industry, and geography.
Warburg Pincus is a seasoned advisor to management teams looking to establish long-term businesses with long-term value. Since its founding in 1966, Warburg Pincus has raised more than $100 billion in private equity and real estate funds, which have invested in over 1,000 firms in more than 40 countries. Warburg Pincus has backed more than 190 initial public offerings (IPOs) since its establishment.