The customer interaction platform Beaconstac, which uses QR codes, has announced a $25 million Series A investment round led by Telescope Partners and including current investor Accel.
The funding demonstrates the significant commercial demand for Beaconstac’s SaaS platform, which will lead to profitable revenue growth of 200% over the course of 2022, as per reported by BW Disrupt.
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With the help of this additional funding, Beaconstac will be able to further develop its industry-leading platform, assemble a top-tier team, and ultimately encourage both new and existing clients to use QR codes to establish intimate connections with large audiences and link physical to digital customer experiences.
Commenting on the fundraise, Sharat Potharaju, CEO of Beaconstac, said, “In a world where touchpoints between brand and consumer have grown exponentially, there is a pressing need for frictionless technology that meets consumers on and offline and QR codes are rising to the challenge.” He further added that this funding validates the company’s leadership position in the market and gives it the resources to build additional products on the platform as well as continue helping businesses embrace QR codes for customer engagement.
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Today, BeaconStac is trusted by large enterprises such as Revlon, Nestle, FedEx, and Marriott, and is the leading QR code platform on G2, reaching 20,000 customers in September 2022.
“It’s clear QR codes are becoming an integral part of how businesses communicate with their customers,” said Mickey Arabelovic, Founder at Telescope Partners. “The flexibility and insights Beaconstac deliver for businesses set it apart from competitors. We believe the company has the vision and ability to become the largest player in the market.”
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Over the past 12 months, BeaconStac has helped businesses of all sizes create and track 1.8 million QR codes that were scanned by consumers more than 150 million times.
Beaconstac’s goal is to use mobile technology to increase consumer interaction and offline sales. Their platform assists businesses in attracting more customers, generating leads, connecting with devoted clients, and gathering feedback.
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