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Beacon Closes $56 Million Series C Funding Round Led by Warburg Pincus
Thursday, October 21, 2021

Financing will enable Beacon to execute on its product roadmap, scale solutions across asset classes and end markets, and advance the company's leading position in cloud-based enterprise financial software

NEW YORK, Oct. 13, 2021 /PRNewswire/ -- Beacon Platform Incorporated, ("Beacon"), a leading cloud-based platform for quant development that enables users to build custom trading and risk management applications, announced today that it closed a $56 million Series C, led by Warburg Pincus, a leading global growth investor. Blackstone Innovations Investments also invested in this round, with support from existing investors, including Centana Growth Partners, Global Atlantic Financial Group and PIMCO.

The investment will bolster Beacon's continued growth trajectory and commitment to its mission to build the future of financial markets on the cloud. Engineering, sales, customer-facing teams, and company operations will be key areas of investment as the company continues to scale across multiple markets and geographies.

"Beacon is fundamentally changing the playing field for the financial industry, enabling firms of all types and sizes to benefit from advanced quant technology, enterprise-scale infrastructure, and rapid development tools that were previously the domain of just a few of the largest institutions," said Kirat Singh, CEO of Beacon. "We are excited to leverage Warburg's expertise and global presence as we accelerate our product strategy and sales growth."

"Beacon Platform has shown strong growth over the past two years, expanding its product offering, building important industry partnerships, and closing deals with a wide array of clients," said Alex Stratoudakis, Managing Director, Warburg Pincus. "We are excited to partner with this excellent management team and the talented staff that they have assembled, helping them build on their deep expertise to expand and accelerate their success in this demanding market," added Angel Pu, Vice President, Warburg Pincus.

Warburg Pincus has invested more than $24 billion in technology companies since inception and is one of the most active growth investors in enterprise technology and cloud-based platforms. Within fintech, Warburg Pincus has invested nearly $6 billion globally into companies such as Avalara, Avaloq, Clearwater Analytics, Interactive Data Corp, Metavante / FIS, Personetics, Procare, Quantexa, Reorg Research, Varo, and Wall Street Systems.

Beacon's solutions and transparent source code mean that firms can exponentially increase their ROI on technology spend by focusing their resources on adapting and extending models, analytics, and applications in their respective areas of expertise and competitive advantage. Industry leaders, including PIMCO, Blackstone, Shell New Energies, Global Atlantic, and Commonwealth Bank of Australia, among others, are recognizing the transformational benefits of Beacon's solution.

"Beacon is a state-of-the-art application development platform that enables quants, data scientists and engineers to model and manage risk in a more scalable way. We look forward to expanding our use of Beacon across Blackstone and continuing our partnership with the Company through our strategic investment," said John Stecher, Chief Technology Officer of Blackstone, a client of Beacon.

In the past two years, Beacon has more than tripled its recurring revenue while growing the customer base across all segments. The company is actively recruiting and developing top talent from around the world, growing from 69 employees at the end of 2019 to 141 today, with over 30 open positions as of the time of writing this press release.

Beacon was recently named Best Quant Management Framework in the Chartis Storm50, and Innovator of the Year in the US 2021 FinTech Awards.

About Beacon
Beacon Platform moves financial markets into the future with secure and scalable quant technology, elastic cloud infrastructure, and front-office applications. The integrated development environment and a web application framework make developing applications faster and easier. Borne from decades of collective experience developing trading and risk management systems for Bank of America Merrill Lynch, JPMorgan Chase, and Goldman Sachs, Beacon Platform gives you the robustness and flexibility of these powerful tools. See how you can increase the return on research and development investments from Beacon's next-generation platform for enterprise-scale analytics, trading, risk management, and more at www.beacon.io.

About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $67 billion in private equity assets under management. The firm's active portfolio of more than 215 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.

Contact
Liza Horowitz, Beacon Platform
Liza.horowitz@beacon.io

Sarah Bloom, Warburg Pincus
Sarah.bloom@warburgpincus.com

View original content:https://www.prnewswire.com/news-releases/beacon-closes-56-million-series-c-funding-round-led-by-warburg-pincus-301398719.html

SOURCE Beacon Platform



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