LONDON, October 4, 2021 / PRNewswire / –
- $ 50 million raised as part of an oversubscribed Series B fundraiser
- Round table led by a new investor Northstar.vc
- The funds will accelerate growth by investing in people, technology and continued market expansion
- The tour follows $ 15 million Series A, announced in june 2020, which was run by 8VC and Jeff Bezos
tag, the digital freight and supply chain platform, has raised more than $ 50 million in its B series, directed by Northstar.vc. Superior90 also participated as a new investor. The new capital will be used to grow the team, further develop Beacon technology and expand into new markets.
Since completing its Series A in early 2020, Beacon has experienced hyper growth due to increased customer demand. Revenue has grown 12-fold in the past 12 months, while the team has grown from 24 to 180, including expansion into Asia with a new office in Hong Kong.
Existing investors also participated in the Series B round, including Jeff Bezos, the founder and executive chairman of Amazon, Marc Benioff, Founder, President and CEO of Salesforce, as well as leading US venture capital firms 8VC and Expa.
The digital transformation of logistics, and more broadly of supply chains, had started before the onset of COVID-19, but the pandemic has accelerated this development. The continued shift to online retailing, combined with skyrocketing freight rates and consumer demand for faster and more reliable delivery times, has put extraordinary pressure on businesses and their supply chains. One of the most effective ways for businesses to compete in this new environment is to have full digital visibility of their supply chains and logistics operations.
Co-founder and CEO of Beacon Fraser robinson noted: “We are extremely pleased with the progress made to date, and this latest round of investments, from some of the biggest names in business and technology, is an endorsement of our strategy and our rapid growth.
We created Beacon to transform the way businesses manage their supply chain and logistics operations. Since then, the COVID-19 pandemic has highlighted the importance of resilient, reliable and transparent global supply chains, which has only heightened the need for our technology and services.
We have seen high levels of demand throughout the pandemic, and over the past year we have significantly grown our team, products, and geographic presence to meet this demand, while providing top-notch customer service. first class. These new funds will allow us to further accelerate our growth by continuing to invest in our people and platform so that we can continue our mission to revolutionize the global supply chain. “
Amir Karimpour, Managing Partner at Northstar.vc, said: “At Northstar, we support technologies that have the potential to change the trajectory of their respective industries, and Beacon’s revolutionary platform has the potential to transform supply chains on a global scale. We are excited to partner with the world class Beacon team as they continue to grow. and create value for their customers. ”
Beacon is an integrated digital freight and supply chain platform, whose mission is to help businesses optimize their supply chains with end-to-end visibility, payments and information. The company offers a full range of services including global ocean, air and road freight, customs clearance, insurance, reporting, data analysis and supply chain finance, all accessible and managed on one platform. From reservations to order management and live tracking, Beacon’s secure cloud-based software connects key players and milestones in customer supply chains to provide a central combined view and actionable insights. Beacon was founded in 2018 by CEO Fraser robinson and COO Dmitry Izmailov, both former Uber executives.
Beacon is an integrated digital freight and supply chain platform, whose mission is to help businesses optimize their supply chains with end-to-end visibility, payments and information. The company offers a full range of services, including global ocean, air and road freight, customs clearance, insurance and supply chain finance, all accessible and managed on a single platform.
From reservations to order management and live tracking, Beacon’s secure cloud-based software connects key players and milestones in customer supply chains to provide a central combined view and actionable insights.
The company was founded in 2018 by the CEO Fraser robinson and COO Dmitry Izmailov, former Uber executives, creating a leadership team with deep expertise in logistics, technology, finance and hyper-growth. Beacon is headquartered at London and also has an office at Hong Kong.