UK digital supply chain and freight platform raises $50M - CILT(UK)
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UK digital supply chain and freight platform raises $50M

04 October 2021/Categories: CILT, Industry News, Freight Forwarding, Logistics & Supply Chain


Digital supply chain and freight platform Beacon has raised over $50 million in its Series B round, led by Northstar.vc. 

 

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 significant 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. 

 

Beacon co-founder and CEO Fraser Robinson said: “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. 

 

“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.”

 

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