Beaconstac, a New York-based QR code customer engagement platform, raised $25 million in a Series A funding round led by Telescope Partners with participation from existing investor Accel.
This new funding will enable Beaconstac to further develop its market-leading platform, build a world-class team, and ultimately 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.
"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," said Sharat Potharaju, CEO of Beaconstac. "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."
Beaconstac has helped businesses of all sizes 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.
Company: Uniqode Phygital, Inc
Round: Series A
Funding Month: January 2023
Lead Investors: Telescope Partners
Additional Investors: Accel
Company Website: https://www.beaconstac.com/
Software Category: Phy-gital Solution
About the Company: Founded in 2019 by Sharat Potharaju and Ravi Pratap, Beaconstac is an all-in-one phy-gital solution using QR Codes that help businesses streamline operations, improve customer engagement, measure the ROI of physical marketing channels, and save marketing costs. Its platform 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 its phy-gital customer engagement platform to build direct relationships, grow lifetime revenue, and acquire first-party data in industries. 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.