Digital supply chain provider Beacon raises $50M

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Beacon, a U.Okay.-based virtual provide chain and freight platform maker, printed on October four that it has raised $50 million in a sequence B investment spherical, led through Northstar.vc.

Beacon’s tool is designed to optimize virtual provide chains with insights and visibility. The cloud-based platform provides a freight forwarding carrier throughout all modes built-in with its end-to-end visibility platform, connecting every level of the provision chain to ship a file of the entire knowledge groups want. The platform connects bookings to reserve control, reside monitoring, and file control.

Higher90 additionally participated as a brand new investor. Beacon mentioned that the contemporary capital can be used to develop its workforce, proceed generation building, and extend into new markets.

Since finishing its sequence A in early 2020, Beacon mentioned it has skilled rapid enlargement because of surging buyer call for. Earnings has grown 12x within the final yr, the corporate mentioned, and headcount has greater from 24 to 180 — together with enlargement into Asia with a brand new place of business in Hong Kong.

Current traders additionally collaborating within the sequence B spherical come with Jeff Bezos, founder and government chair of Amazon, and Marc Benioff, founder, chairman, and CEO of Salesforce, along with U.S. challenge capital companies 8VC and Expa.

Virtual provide chains rising in importance

The transformation of logistics and virtual provide chains from servers to the cloud started sooner than the onset of COVID-19, however the pandemic has speeded up this evolution. The continued shift to on-line retail, blended with sky-high freight charges, and client call for for sooner, extra dependable supply occasions, has positioned bizarre power on companies and their provide chains. One of the crucial efficient tactics for companies to compete on this new setting, Beacon mentioned, is with complete, virtual visibility in their provide chains and logistics operations.

“We established Beacon to grow to be how companies arrange their virtual provide chain and logistics operations,” Beacon cofounder and CEO Fraser Robinson, a former Uber government, mentioned in a media advisory. “Since then, the COVID-19 pandemic has introduced into the highlight the significance of resilient, dependable, and clear world provide chains, which has most effective served to improve the desire for our generation and repair.”

“We have now observed excessive ranges of call for all through the pandemic, and within the final yr we now have considerably grown our workforce, product, and geographical presence in an effort to meet this call for, whilst offering top notch customer support. Those new budget will allow us to additional boost up enlargement through proceeding to spend money on our other people and platform in order that we will be able to proceed our challenge to revolutionize the worldwide provide chain.”

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