Beacon, a London UK-based digital supply chain and freight platform, raised $50M in Series B funding.
The round was led by Northstar.vc with participation from Upper90, Jeff Bezos, the founder and executive chair of Amazon, Marc Benioff, founder, chairman, and CEO of Salesforce, as well as US venture capital firms 8VC and Expa.
The company intends to use the funds to grow the team, continue the development of its technology and expand into new markets.
Company: Beacon Technologies Ltd.
Raised: $50.0M
Round: Series B
Funding Month: October 2021
Lead Investors: Northstar.vc
Additional Investors: Upper90, Jeff Bezos, Marc Benioff, 8VC and Expa
Company Website: https://beacon.com/
Software Category: Integrated digital supply chain and freight platform
About the Company: Beacon launched in 2018 and uses AI and cloud-based technology to help companies make their international supply chains more efficient. Led by CEO Fraser Robinson and COO Dmitri Izmailov, Beacon provides an integrated digital supply chain and freight platform, whose mission is to help businesses optimize their supply chains with end-to-end visibility, payments, and insights. The company offers a full range of services, including global ocean, air, and road freight, customs clearance, insurance, and supply chain finance, all accessed and managed in a single platform. Since completing its Series A in early 2020, Beacon has experienced 12x revenue growth in the last 12 months, while the team has increased from 24 to 180, including expansion into Asia with a new office in Hong Kong.
Source: https://www.finsmes.com/2021/10/beacon-raises-50m-in-series-b-funding.html https://www.standard.co.uk/business/beacon-london-logistics-startup-backed-by-jeff-bezos-raises-37-million-b958650.html