Jeff Bezos backed Beacon announces Series B funding round

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

Upper90 also participated as a new investor, alongside existing backers including Amazon founder Jeff Bezos.

Beacon was founded in 2018 by CEO Fraser Robinson and COO Dmitri Izmailov, former Uber executives.

The cash will be used to grow its team, continue the development of its technology and expand into new markets.

Robinson says: “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.

He adds; “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.”

Amir Karimpour, Managing Partner at Northstar.vc, comments: “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.”