Beacon: Disrupting The Future Of Global Freight Forwarding | Logistics
Beacon recently made the news after raising $15mn in Series A fundraising, with Amazon founder Jeff Bezos participating. We’re taking a closer look at the company here.
Beacon is a UK-based start-up company, which launched in 2018, with a vision to disrupt the global freight forwarding industry. The company utilises artificial intelligence (AI) and cloud technology to improve the operational efficiency of its customers engaged in international trade.
The company offers simple, transparent and reliable logistics, enabling customers control of their logistics with full visibility, competitive instant prices and trusted carriers, along with the financing to enable business growth.
Beacon’s solutions provide logistics managers with a simple, easy to use online platform for real-time tracking and support. This platform makes the management of shipments easy, with a dedicated support team also assigned to make things more efficient and easy for the customer.
Beacon also ensures that it partners directly with the world’s best global carriers, providing users of the platform with a trusted network of the most effective and efficient carriers to work with.
Unnecessary spend can be eliminated using the Beacon solutions, with the company’s online freight pricing tool providing the ability to discover the most fair and transparent prices available. These competitive prices can create huge savings for companies.
The company’s platform provides supply chain managers with a single, simple place to manage everything, with instant pricing for any global route, online booking and management, real-time tracking, and an analytics dashboard all included.
Users can also receive faster payments from unpaid customer invoices, and pay suppliers when they decide to, giving them increased control of their own cash and spending less time waiting for payments. 90-day terms on freight costs at no additional charge are also included.
Jeff Bezos joins former Google chief executive Eric Schmidt, and Uber Technologies founder Travis Kalanick amongst one of the most prominent line-ups of investors in any early-stage technology company.
The investment from Bezos highlights the significant potential that Beacon holds to benefit both Amazon and the industry as a whole. The technology of Beacon, which optimises shipping routes and drives reduced costs, could help Amazon tackle a number of the logistics challenges it has faced.
The $15mn funding will be used by Beacon to expand its operations with the hiring of more staff to develop its existing technology. The latest round of funding has reportedly valued Beacon at around $60mn. Could the company have the potential to make significant waves in the $1trn freight forwarding industry?