Beacon Platform Incorporated, a NYC-based cloud-based platform for quant development that enables users to build custom trading and risk management applications, closed a $56m Series C funding round.
The round was led by Warburg Pincus, with participation from Blackstone Innovations Investments and existing investors Centana Growth Partners, Global Atlantic Financial Group and PIMCO.
The company intends to use the funds to expand engineering, sales, customer-facing teams, and operations to scale across multiple markets and geographies.
Led by Kirat Singh, CEO, Beacon Platform provides quant technology, elastic cloud infrastructure, and front-office applications for financial markets. The integrated development environment and a web application framework enables users to develop applications for enterprise-scale analytics, trading, risk management, and more 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, use Beacon’s solution.