Beacon Platform, a cloud-based enterprise technology and capital markets software solution vendor, announced on Thursday it secured $20 million through its Series B funding round, which was led by Centana Growth Partners, with participation from existing investors, PIMCO and Global Atlantic.
“Beacon delivers an integrated data and financial analytics platform where quants and developers can write and test their code, run their analytics in production, access elastic compute, and build and deploy applications. All transparently tied into the power of cloud computing to reduce fixed infrastructure costs and rent compute only when you need it.”
While sharing details about the investment round, Mark Higgins, Co-Founder and COO of Beacon, explained:
“We believe that by empowering firms with the same kind of enterprise technology platform used by the biggest financial institutions, we can actually create a stronger and more innovative financial ecosystem. The Series B funding will help us further realize our vision and scale it industry-wide.”
Eric Byunn, Partner at Centana Growth Partners, further commented:
“Beacon’s software not only provides clients with significant uplift in developer productivity and reduces time-to-value, but also works seamlessly alongside its customers’ existing trading and risk management solutions, making it easy to get started. We’re excited to partner with this unique team to support them through this next phase of growth.”
Beacon went on to add that the funds from the investment round will be used to expand operations and product development.