Scanbuy’s strong show in raising funds

2D barcode specialist Scanbuy closed another profitable year as it passed 35 million installs.

Unlike Microsoft and other similar companies, Scanbuy works in the open barcode space and it earns its revenues by selling services to brands running code campaigns.

Some of the recent clients are Home Depot, Bloomingdale’s and Miller/Coors. Scanbuy is active in more than 30 countries worldwide where companies where the company has more than 10,000 business accounts using the ScanLife platform to track and manage their barcode campaigns.

Now the company has raised $5 million that is evidence of the fact that the industry has started accelerating. As per Scanbuy, there are millions of 1D and 2D barcode scans every month through its systems.

Mike Whers, CEO – Scanbuy, says that it is an exciting time for the mobile barcode industry. The fact the company is oversubscribed is a testament to the strength of the company’s products.

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