Warburg Pincus leads USD 150m round for Scandit

The round was also backed by existing investors Atomico, Forestay Capital, G2 Venture Partners (G2VP), GV, Kreos, NGP Capital, Schneider Electric, Sony Innovation Fund by IGV, and Swisscom Ventures.

Warburg Pincus is currently deploying equity via funds including Warburg Pincus Global Growth, which held a final close in November 2019 on USD 14.8bn. The fund invests from early to late stages, deploying equity tickets of USD 50m-500m per deal with an investment period of six years.

According to a statement, the company's recurring revenues have doubled and its team size has grown by 85% since its Series C round in May 2020.

Following its Series C round, CEO Samuel Mueller told Unquote sister publication Mergermarket that the company would be receptive to acquisition opportunities in the next 12-18 months in order to expand its technology stack.

Scandit intends to use the proceeds from its Series D round to expand its global presence and the size of its team. It will focus in particular on the Asia-Pacific region, namely Japan, Singapore and South Korea. The company also plans to continue to develop its Scandit Smart Data Capture platform.

Previous funding
In 2014, Scandit raised USD 5.5m in seed funding from a group of private investors.

The company raised USD 7.5m in a Series A round led by Atomico in January 2017.

In July 2018, GV led a USD 30m Series B funding round for Scandit. Existing investor Atomico and new backer NGP Capital also took part in the round.

In May 2020, G2VP led a USD 80m Series C round for Scandit, joined by Atomico, GV, Kreos Capital, NGP Capital, Salesforce Ventures, and Swisscom Ventures. The company said in a statement issued at the time that it intended to expand to new markets, as well as investing in research and development.

Company
Founded in 2009, Scandit develops software to capture data from barcodes, text, IDs and objects, with the aim of automating processes, increasing worker productivity, and providing customer engagement insights. Its software operates on smartphones, tablets and wearable computing devices. It employs 450 staff and is headquartered in Zurich.

Scandit's core customer sectors are retail, transportation, logistics, healthcare and manufacturing, and it now serves more than 1,700 customers globally, including FedEx, Levi's and Sephora. The company said in a statement that it had also provided data capture insights to health organisations during the pandemic, including the UK's NHS.

People
Warburg Pincus – Flavio Porciani (managing director).
Scandit – Samuel Mueller (CEO).
G2 Venture Partners – Ben Kortlang (general partner).
Atomico – Siraj Khaliq (partner).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Warburg Pincus
• Atomico
• Switzerland