Beacon Platform Incorporated (“Beacon”), a top cloud platform used for quantitative development that allows users to develop customized risk and trading applications, announced it had closed an investment of $56 million in Series C headed by Warburg Pincus, a leading global growth investor. Blackstone Innovations Investments also invested in this round with the support of existing investors, including Centana Growth Partners, Global Atlantic Financial Group and PIMCO.
The acquisition will help support Beacon’s ongoing growth path and dedication to its mission to help build new financial services through the cloud. Sales, engineering teams, customer-facing, and company operational activities will become key investment sectors as the Company expands across multiple regions and markets.
Beacon Closes $56 M in Series C Funding Round D By WARBURG PINCUS
“Beacon is fundamentally altering the game that the banking industry in by enabling companies of all kinds and sizes to gain access to cutting-edge technology, infrastructure that is enterprise-scale and rapid development tools that were once reserved for some of the biggest companies,” said Kirat Singh the Beacon’s CEO. Beacon. “We are thrilled to benefit from the experience and expertise of Warburg as well as its global reach in accelerating Beacon’s product strategy and growth in sales.”
“Beacon Platform has shown strong growth in the last two years and has expanded its product offerings, establishing significant industry partnerships and concluding deals with a diverse array of customers,” said Alex Stratoudakis, the Managing Director at Warburg Pincus. “We are thrilled to partner with this incredible management team and the skilled team they have put together to help them build upon their extensive knowledge to grow and improve their standing in the competitive market,” added Angel Pu, Vice President of Warburg Pincus.
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Warburg Pincus has invested more than $24 billion in technology companies since its beginning and is among its most active growth investors in cloud-based and enterprise technology platforms. In fintech, Warburg has invested nearly $6 billion worldwide in companies like Avalara, Avaloq, Clearwater Analytics, Interactive Data Corp, Metavante / FIS, Personetics, Procare, Quantexa, Reorg Research, Varo, and Wall Street Systems.
Beacon’s solutions, as well as its transparent source code, meaning that companies can dramatically increase the ROI on technology spending by focusing their attention on enhancing and adapting models as well as applications, analytics, and models within their specific areas of expertise as well as a competitive advantage. Industry leaders, such as PIMCO, Blackstone, Shell New Energies, Global Atlantic, Commonwealth Bank of Australia, and many others, are realizing the transformative benefits of Beacon’s solutions.
“Beacon is an advanced application development platform that allows analysts, data researchers and engineers to control risk easier and more flexibly. We are looking ahead to expanding our utilization of Beacon across Blackstone and maintaining our relationship with the Company by investing in strategic ways,” said John Stecher, Chief Technology Officer at Blackstone, a client of Beacon.
In the last three years, Beacon increased its revenue from recurring sales while increasing its customers in all categories. The Company is currently recruiting and developing the best talent worldwide, increasing from 69 employees at the end of the year to 141 employees today. It has more than 30 open jobs as of this press release.
Beacon was recently awarded the Best Quant Management Framework in the Chartis Storm50 and Innovator of the Year at the US 2021 FinTech Awards.
Beacon Platform moves financial markets forward with security and scalable quant technology, flexible cloud infrastructure, and front-office applications. Its integrated development environments and application framework for web applications make applications more rapid and easy.
Based on decades of experience designing the trading and risk management systems for Bank of America Merrill Lynch, JPMorgan Chase, and Goldman Sachs, Beacon Platform offers the durability and versatility these tools offer. Find out how you can boost your investment in research and development ROI with Beacon’s next-generation platform that combines large-scale analytics trading, risk management, trading and much more at www.beacon.io.
Information About Warburg Pincus
Warburg Pincus LLC is a world-class growth investor. The firm holds more than $67 billion of capital invested in private equity under control. The portfolio comprising greater than 215 companies, is well-diversified across the stage of development, industry, and geography. Warburg Pincus is an experienced partner to management teams who want to create durable companies with long-term value.
It was founded in 1966. Warburg Pincus has raised 20 private equity funds investing more than 97 billion dollars in more than 960 companies across 40 countries. The Company is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo, Shanghai and Singapore. For more information, please visit www.warburgpincus.com.