Beaconstac, a leading provider of QR code solutions for customer engagement, has raised $25 million in a Series A funding round led by Telescope Partners, with participation from Accel, a current investor. The company has assisted businesses of all sizes in creating and monitoring 1.8 million QR codes that have been scanned over 150 million times by consumers. With a gross margin of 85% and a 200% increase in revenue in 2022, the company has seen strong demand for its services. Major companies such as Revlon, Nestle, FedEx, and Marriott trust Beaconstac and it is the top QR code platform on G2 with 20,000 customers in September 2022. The firm plans to use the new funding to develop its market-leading platform, assemble a top-notch team, and allow customers to adopt QR codes for personal connections. The company currently has 75 employees in New York and Bangalore, India, and plans to increase its workforce by 200% in 2023.
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