ScanLife

Mobile Barcode Company Scanbuy Secures $5 Million In Funding

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Scanbuy, a New York-based provider of mobile barcode solutions, has raised an additional $5 million to complete its latest round of funding, bringing the total raised to $26.6 million.

Investors for the round, which Scanbuy claims was oversubscribed, include Motorola Solutions Venture Capital, Hudson Ventures and a number of existing private investors.

The company recently struck partnerships with brands such as Home Depot, Miller/Coors and Bloomingdale’s, which it says helped fuel the adoption of its technology in the past few months. The company has also expanded geographically, setting up operations in countries like France, Mexico and the United Kingdom.

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.

The company says its ScanLife mobile apps have been downloaded on over 35 million devices. It is currently seeing millions of scans from over 30 countries, of both 2D and 1D barcodes, through its system on a monthly basis.