Analysis
Scanntech, a Montevideo, Uruguay-based provider of a retail intelligence, data analytics, and marketing services platform, has raised $180 million in Series F funding, with L Catterton leading the round and Partners Group also participating, according to FinSMEs. Brazilian lender Bradesco joined as well, and existing backers including Warburg Pincus, Hindiana, IFC, and Endeavor also took part.
Roughly half of the new capital is primary and half is a secondary sale, according to Brazil Journal, which reported the deal was signed after nearly a year of talks. Warburg Pincus is using the sale to partially exit a position it built with a $40 million investment in a January 2023 Series D round, while keeping some exposure to future upside. The new round values Scanntech at roughly 5.5 times annual revenue, Brazil Journal reported, with new investors ending up holding close to 30% of the company.
How Scanntech's Series F Stacks Up
Scanntech tracks supermarket and retail sell-out data in real time, selling pricing, promotion, and inventory intelligence to food, beverage, and hygiene brands. It operates across Brazil, Mexico, and Colombia and plans to enter additional Latin American markets starting next year. The deal lands at a moment when retail-data platforms are drawing premium multiples even as growth slows: Brazil Journal put Scanntech's growth at roughly 30% a year, down from its earlier pace, as the category matures and competes for the same consumer-goods budgets as incumbents like NielsenIQ, Circana, and Numerator.
For founders and GPs, the structure is the real story: a 5.5x revenue multiple on a company growing 30% annually, more than a decade into its life, looks like a mature-asset price rather than a growth premium — a useful marker for how LatAm data companies are getting valued relative to their US and European peers right now. Our 2026 VC fundraising tracker has logged a steady run of similar growth-stage data deals this quarter.
What the headline doesn't fully capture: neither Scanntech nor L Catterton has issued a public statement confirming the deal's terms, so some figures here rely on deal reporting rather than a company announcement, and half the round being a secondary sale means less fresh capital is actually reaching Scanntech's own balance sheet than the $180 million headline implies.
Scanntech's next test is whether it can replicate its Brazilian pricing-data playbook in markets where NielsenIQ and Circana already hold incumbent retailer relationships — international expansion was the stated use of funds, but execution there is unproven.