Digital provide chain provider Beacon raises $50M

Beacon, a U.Good ample.-based totally digital provide chain and freight platform maker, revealed on October 4 that it has raised $50 million in a series B funding round, led by Northstar.vc.

Beacon’s machine is designed to optimize digital provide chains with insights and visibility. The cloud-based totally platform provides a freight forwarding service across all modes constructed-in with its discontinue-to-discontinue visibility platform, connecting every stage of the provision chain to raise a tell of the whole files teams need. The platform connects bookings to tell administration, live tracking, and document administration.

Higher90 additionally participated as a original investor. Beacon stated that the contemporary capital will seemingly be extinct to grow its team, proceed technology model, and become original markets.

Since finishing up its series A in early 2020, Beacon stated it has skilled immediate growth attributable to surging customer inquire of. Income has grown 12x within the final year, the company stated, and headcount has increased from 24 to 180 — including growth into Asia with a original place of work in Hong Kong.

Present merchants additionally taking portion within the series B round encompass Jeff Bezos, founder and govt chair of Amazon, and Marc Benioff, founder, chairman, and CEO of Salesforce, as successfully as to U.S. venture capital corporations 8VC and Expa.

Digital provide chains increasing in significance

The transformation of logistics and digital provide chains from servers to the cloud began earlier than the onset of COVID-19, but the pandemic has accelerated this evolution. The continuing shift to on-line retail, mixed with sky-excessive freight rates, and particular person inquire of for faster, extra official provide times, has positioned unprecedented strain on corporations and their provide chains. One amongst the most attention-grabbing ways for corporations to compete in this original atmosphere, Beacon stated, is with paunchy, digital visibility of their provide chains and logistics operations.

“We established Beacon to remodel how corporations put together their digital provide chain and logistics operations,” Beacon cofounder and CEO Fraser Robinson, a damaged-down Uber govt, stated in a media advisory. “Since then, the COVID-19 pandemic has brought into the highlight the significance of resilient, official, and clear global provide chains, which has most attention-grabbing served to enhance the need for our technology and repair.”

“We maintain considered excessive phases of inquire of for the length of the pandemic, and within the final year we maintain greatly grown our team, product, and geographical presence in tell to meet this inquire of, whereas providing firstclass customer service. These original funds will enable us to additional roam up growth by continuing to speculate in our other folk and platform so that we are able to proceed our mission to revolutionize the worldwide provide chain.”