Beaconstac, a New York-based provider of a QR code customer engagement platform, raised $25M in Series A funding.
The round was led by Telescope Partners, with participation from Accel.
The company intends to use the funds to further develop its platform, build the team, and enable new and existing customers to adopt QR codes as a means to create personal connections with a wide audience at scale, and bridge physical world customer experiences to digital.
Led by CEO Sharat Potharaju, Beaconstac provides a platform that makes physical products and places talk directly to consumers through digital content and actions by leveraging smartphone technologies like QR codes. Over 25,000 businesses and brands in 100+ countries use the Phygital Customer Engagement platform to build direct relationships, grow lifetime revenue, and acquire first-party data in industries ranging from consumer goods, hospitality, retail, and real estate, reaching over 5 million monthly active users.
Over the past 12 months, the company has enabled businesses of all sizes including large enterprises such as, Revlon, Nestle, FedEx, and Marriott, to create and track 1.8 million QR codes that were scanned over 150 million times by consumers.
Beaconstac currently employs 75 employees across offices in New York and Bangalore, India with plans to increase its workforce by roughly 200% in 2023.
FinSMEs
18/01/2023