Scandit Raises $80M Led by G2VP to Digitally Transform Traditional Industries Through Computer Vision and Augmented Reality
The funding will be used to further accelerate global expansion and technology leadership
Scandit, the leading technology platform for mobile computer vision and augmented reality (AR) solutions for enterprises, announced it has raised $80 million in Series C related funding led by G2VP, a Silicon Valley venture capital firm of former Kleiner Perkins partners. They were joined by Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures. Scandit has previously raised $43 million.
“Scandit’s platform puts an enterprise-grade scanning solution in the pocket of every employee and customer without requiring legacy hardware”
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. The new funding will 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 AR. Scandit’s global customers include 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.
Scandit is a unique computer vision and machine learning platform combining leading-edge barcode scanning, text recognition (OCR), object recognition and augmented reality (AR) for any camera-equipped smart device – from familiar smartphones to drones, wearables and robots. The software is unmatched in terms of speed, accuracy, and the ability to scan in bad light, at any angle and with damaged labels.
Scandit 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. Scandit’s solutions help take time and cost out of operations in any industry, empowering employees and improving customer engagement and satisfaction.