Customer engagement platform Beaconstac raises $25 Mn in Series A round led by Telescope Partners
- ByStartupStory | January 18, 2023
Beaconstac, a New York-based QR code-based customer engagement platform, has raised $25 million in a Series A round led by Telescope Partners. Accel, a returning investor, also took part in the round.
The funds will be used to further develop the company’s platform and expand its teams in India and the United States.
The company is collaborating with over 25,000 businesses and brands such as Revlon, Novartis, Nestle, FedEx and Marriott across more than 100 countries.
“It’s clear QR codes are becoming an integral part of how businesses communicate with their customers,” said Mickey Arabelovic, Founder at Telescope Partners, in a statement. “The flexibility and insights Beaconstac delivers for businesses sets it apart from competitors.”
Beaconstac reported 200% revenue growth in 2022, with customers primarily in the United States. The company, which currently employs approximately 75 people, intends to increase its headcount to 150-160 this year across its India and US operations. Beaconstac has a presence in the Philippines as well.
Founders of Beaconstac Sharat Potharaju and Ravi Pratap M, founded Mobstac in 2009. It’s a mobile app and website building and management platform for publishers.
Today Beaconstac is present across industries like food, pharma, food and beverage, hospitality, retail, real estate, government and others in the US. It is their primary market.
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