Overview

Scandit provides smart data capture technology that enables devices like smartphones and tablets to scan barcodes, text, IDs, and objects with high speed and accuracy. Their software development kits (SDKs) allow businesses in retail, logistics, healthcare, and manufacturing to integrate advanced scanning capabilities into their applications, improving operational efficiency and customer engagement. Scandit operates on a subscription-based model, ensuring steady revenue while offering tailored solutions for secure identity verification. The company's goal is to enhance how businesses capture and utilize data, ultimately boosting efficiency and user experience.

Simplify's Take

What believers are saying

• Growing demand for contactless solutions boosts Scandit's market potential.
• Rising adoption of AR in retail enhances Scandit's customer experience offerings.
• Expansion in healthcare for patient tracking increases Scandit's market reach.

What critics are saying

• Patent litigation from Honeywell could lead to costly legal battles.
• Integration challenges from MarketLab acquisition may disrupt operations.
• Ignoring retail workers' tech needs could lead to customer dissatisfaction.

What makes Scandit unique

• Scandit offers unmatched scanning performance on any camera-equipped smart device.
• Their SDKs enable seamless integration of advanced scanning into existing applications.
• Scandit's solutions enhance operational efficiency and customer engagement across multiple industries.

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Funding

Total Funding

$265.2M

Above

Industry Average

Funded Over

7 Rounds

$150,000,000

Series D

Feb 2022

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Above Average

Industry standards

Ind Avg. $77M

$49M

$50M

$70M

$80M

$100M

$150M

View all funding stages