Funds for QR Code Data Platform Beaconstac

In New York, QR code customer engagement platform Beaconstac, which businesses use to acquire first-party data, has raised $25m in a Series A round of funding, which will help to further develop its technology and expand its team.

Beaconstac's platform helps consumers connect with physical products and places through digital content and actions, through smartphone technologies including QR codes. Businesses use the firm's 'Phygital' Customer Engagement platform to build direct relationships and acquire insights from the company's five million monthly active users. In the past year, Beaconstac says it has helped businesses create and track 1.8 million QR codes that were scanned more than 150 million times by consumers.

New funding has been led by Telescope Partners, with participation from existing investor Accel. Sharat Potharaju (pictured), CEO of Beaconstac, comments: '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 off-line and QR codes are rising to the challenge. 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'.

The firm, which employs 75 across offices in New York and Bangalore, India, is online at www.beaconstac.com .