Highlights:
- $50 million raised in oversubscribed Series B fundraise 
- Round led by new investor Northstar.vc 
- Funds will accelerate growth by investing in people, technology and 
  continued market expansion 
- Round follows on from $15 million Series A, announced in June 2020, which 
  was led by 8VC and Jeff Bezos

Beacon [ https://beacon.com/ ], the digital supply chain and freight platform, 
has raised over $50 million in its Series B round, led by Northstar.vc. Upper90 
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 co-founder and CEO Fraser Robinson said: "We are extremely pleased with 
the progress to date, and this latest round of investment, from some of the 
leading names in business and technology, is an endorsement of our strategy and 
rapid growth.

We established Beacon to transform how businesses manage their supply chain and 
logistics operations. Since then, the COVID-19 pandemic has brought into the 
spotlight the importance of resilient, reliable, and transparent global supply 
chains, which has only served to reinforce the need for our technology and 
service. 

We have seen high levels of demand throughout the pandemic, and in the last 
year we have significantly grown our team, product and geographical presence in 
order to meet this demand, while providing first-class customer service. These 
new funds will enable us to further accelerate growth by continuing to invest 
in our people and platform so that we can continue our mission to revolutionise 
the global supply chain."

Amir Karimpour, Managing Partner at Northstar.vc, said: "At Northstar, we back 
technologies that have the potential to alter the trajectory of their 
respective industries, and Beacon's game-changing platform has the potential to 
transform supply chains globally. We are excited to partner with Beacon's world 
class team as they continue to expand and create value for their customers." 

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

About Beacon:
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.

Source: Beacon