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UK digital supply chain and freight platform Beacon raises $50 million Series B round
, the digital supply chain and freight platform, has raised over $50 million in its Series B round, led by . also participated as a new investor. The fresh capital will be used to grow the team, continue the development of Beacon's technology and expand into new markets.
Since completing its Series A in early 2020, Beacon has experienced hyper growth as a result of surging customer demand. Revenue has grown 12x 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 .
Existing investors also participated in the Series B round, including Jeff Bezos , the founder and executive chair of Amazon, Marc Benioff , founder, chairman and CEO of Salesforce, as well as leading US venture capital firms 8VC and Expa.
The digital transformation of logistics, and supply chains more broadly, had begun before the onset of COVID-19, but the pandemic has accelerated this evolution. The continuing shift to online retail, combined with sky-high freight rates and consumer demand for faster, more reliable delivery times, has placed extraordinary pressure on businesses and their supply chains. One of the most effective ways for businesses to compete in this new environment is with full, digital visibility of their supply chains and logistics operations.
Beacon is an integrated digital supply chain and freight platform, whose mission is to help businesses optimise 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, reporting, data insights and supply chain finance, all accessed and managed in a single platform. From bookings to order management and live tracking, Beacon's secure cloud-based software connects the key players and milestones in customers' supply chains to provide a central combined view, and actionable insights. Beacon was founded in 2018 by CEO Fraser Robinson and COO Dmitri Izmailov , both former Uber executives.
www.beacon.com
Beacon is an integrated digital supply chain and freight platform, whose mission is to help businesses optimise 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.
From bookings to order management and live tracking, Beacon's secure cloud-based software connects the key players and milestones in customers' supply chains to provide a central combined view, and actionable insights.
The company was founded in 2018 by CEO Fraser Robinson and COO Dmitri Izmailov , former Uber executives, creating a management team with deep expertise in logistics, technology, finance and hyper-growth. Beacon is headquartered in London and also has an office in Hong Kong .