Beaconstac, a provider of software as a service (SaaS), has raised USD 25 Mn in a fundraising round that was spearheaded by Telescope Partners. Participants in the round included Accel’s current investors.
In a statement, the organization said, “This new funding will enable Beaconstac to further develop its market-leading platform, build a world-class team, and ultimately enable new 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”.
Beaconstac asserts that over the previous 12 months, it assisted companies of all sizes in creating and tracking 1.8 million QR codes, which were scanned by customers more than 150 million times.
These figures will keep rising since by 2025, there will be 99.5 million US smartphone users that scan a unique QR code.
Sharat Potharaju (Beaconstac, CEO) said, “This funding validates our leadership position in the market and gives us the resources to build additional products on our platform as well as continue helping businesses embrace QR codes for customer engagement”.