Toronto-based Beacon Software has raised $250 million USD in Series B financing to accelerate acquisitions of smaller software and services firms and embed artificial intelligence across their operations. The all-equity round was co-led by General Catalyst, Lightspeed Venture Partners, and D1 Capital, valuing Beacon at $1 billion.
Founded in 2023 by former Instacart president Nilam Ganenthiran and ex-Sequoia partner Divya Gupta, Beacon calls itself “the anti-private equity firm,” acquiring profitable companies to grow long-term rather than sell quickly. The company has already partnered with dozens of businesses—including several in Canada—and employs technologists across Toronto, San Francisco, and New York.
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