Scandit, the Smart Data Capture Leader, Announces $150m Series D Investment

Zurich, Switzerland, 9th February 2022 – Scandit, the global leader in smart data capture, has
completed a Series D funding round of $150 million at a company valuation in excess of $1
billion. The funding round was led by Warburg Pincus, a leading global growth investor with a
track record of successfully scaling high growth companies, particularly in B2B software. The
funding round was significantly oversubscribed with strong participation from Scandit’s existing
shareholder base, including Atomico, Forestay Capital, G2VP, GV, Kreos, NGP Capital,
Schneider Electric, Sony Innovation Fund by IGV and Swisscom Ventures.

To date, Scandit has raised almost $300 million to fuel its global expansion, enabling smart
devices to capture data on the edge from barcodes, text, IDs and objects through computer
vision in order to automate processes and provide insights that enhance customer engagement
and increase worker productivity. Since its Series C funding round in May 2020, the company
has more than doubled its annual recurring revenue and now has over 1700 global customers
including American Eagle Outfitters, Carrefour, FedEx, Levi’s Strauss & Co., Yamato Transport
and Sephora.
Scandit has strengthened its leadership position in its core verticals – retail, transportation and
logistics, healthcare and manufacturing – and today is trusted by three of the top five global
courier companies and eight of the top ten US grocers. During the pandemic, Scandit has also
been providing data capture services to national health organizations such as the NHS in the
UK to support Covid-19 programs and initiatives.
Scandit plans to use the additional funding to further expand its global footprint and team with a
particular focus on APAC, including Japan, Singapore and South Korea. Since the Series C
funding, Scandit’s globally distributed team has increased by 85% with plans to grow by another
50% by the end of 2022. The investment will also be used to continue to drive expansion and
innovation in core verticals.
Additionally, the funding will accelerate Scandit’s R&D to advance enterprises’ core business
processes with an increased emphasis on AI/ML capabilities and autonomous data capture
methods. Scandit Smart Data Capture platform will further augment the intelligence and
decision-making of users leading to faster, more accurate and automated outcomes whether on
a smartphone, wearables or via robots.

Transforming Enterprises with Smart Data Capture
Accelerated by the pandemic, expectations from employees and customers continue to increase
with a preference for more digital experiences. Enterprises must address changing workforce
dynamics to tackle ongoing labor shortages, the rise of gig economy workers, and empower
existing employees. Customers increasingly seek contactless experiences, while businesses
need to automate processes, gain new intelligence and increase efficiencies to meet these new
needs.
Traditional data capture tools, such as those enabled with general purpose scanners, have been
unable to meet such requirements. Whether to digitally enable the mobile workforce or to
enhance supply chain visibility, omnichannel fulfillment, store operations efficiency or asset
tracking and maintenance, Scandit Smart Data Capture enables enterprises to address these
new challenges with unmatched speed, accuracy and intelligence.
Flavio Porciani, Managing Director at Warburg Pincus, said, ‘’Scandit’s smart data capture
technology is transforming the way businesses operate and interact with their customers in an
increasingly digital world and is strongly aligned with some of the biggest secular trends of our
time, including enablement of the digital workforce and supply chain visibility. Already used by
leading enterprises across multiple industries, by customers and end users all over the world,
we see a huge opportunity for Scandit to cement its position as the global leader in smart data
capture. We are excited to have the opportunity to partner with the team at Scandit on the next
phase of their ambitious growth strategy.’’
Samuel Mueller, CEO at Scandit, said, “By following our original vision of using the camera on
smart devices to interact with physical items, we are transforming the daily lives of customers,
employees and businesses to enable enhanced, personalized experiences and achieve their
digital transformation ambitions. The new funding will allow us to help more businesses globally
and to better empower an evolving mobile workforce, meet new customer expectations and
deliver increasingly automated operations. We are thrilled to have Warburg Pincus as our
partner on the next phase of our growth journey. They bring a deep understanding of our
business and software growth investing and a long track record of backing winning businesses.”
As an example of its innovation, last month Scandit launched ShelfView, a smart data capture
and analytics solution for retail shelf management. Leveraging augmented reality, object
recognition, optical character recognition and other innovative computer vision technology,
ShelfView captures SKU-level product data via both mobile devices and autonomous robots to
enable constant shelf visibility and empower more intelligent and efficient store operations.