Scanbuy, a New York-based provider of mobile barcode solutions, has received a capital injection in a round led by Motorola Ventures, Masthead Venture Partners, Hudson Ventures and private investors. Financial terms of the investment were not disclosed.
Scanbuy’s ScanLife platform provides a way for advertisers to provide digital information to consumers through the use of 2D barcodes and camera phones. That way, advertisers are able to provide consumers with access to information like product reviews, price comparisons and coupon offers simply by having them scan two-dimensional codes placed on product packaging, a magazine ad or other media. Scanlife can scan traditional UPC barcodes as well as popular 2D barcode formats like Datamatrix and QR Codes.
According to a statement released by lead investor Motorola Ventures, ‘millions’ of people have used ScanLife on a range of mobile devices running Android, BlackBerry OS, iPhone OS, Java and Symbian to date. Scanbuy also claims to have the largest and oldest patent portfolio of any company in the industry, with over 30 patents granted covering the solution.
Update: Scanbuy is giving away a Droid – all you need to do is scan an EZcode on this page and you’ll find out if you won or lost straight away.
Noteworthy: Scanbuy’s chief executive is Jonathan Bulkeley, previously CEO of barnesandnoble.com and prior Managing Director of AOL’s joint venture with Bertelsmann Online in the U.K., and AOL’s Vice President of Business Development in the United States.
This investment follows Motorola Ventures’ backing of Zephyr Technology Corporation, which dates back to June 2009.
Scanbuy is the developer of ScanLife, an end-to-end mobile barcode platform that helps marketers and content providers link their media to mobile. The technology has been deployed and supported by leading mobile providers and handset manufacturers in the United States, Mexico, Chile, Spain, Italy and Denmark. Media companies and marketers like Volkswagen, Heineken, Verizon, and Esquire, use the solution to create and manage measurable barcode campaigns.
Motorola Ventures helps turn great new ideas into thriving businesses. They are not a lab, but like one, they are about discovery. They focus on opportunities that complement Motorola’s total business strategy. They evaluate “new idea companies,” the people and technologies behind them and the vision they bring. They identify cutting-edge technology investments that will help them to achieve the best solutions to fit their customers’ needs. Every investment is a strategic alliance encapsulated by vision, creativity, and business...
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