Beacon Platform has announced that Blackstone, the world’s largest alternative asset manager, has chosen to integrate Beacon with its strategic financial and cloud technologies, accelerating the firm’s digital transformation. Blackstone has also invested in Beacon’s recent Series C funding round, which raised $56 million to advance the company’s leading position in cloud-based enterprise financial software.
“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,” said John Stecher, Chief Technology Officer of Blackstone.
“Beacon brings tremendous capabilities to help us scale quantitative research and financial engineering across Blackstone. We are excited to utilize Beacon’s flexible and extensible data model at the firm to enable us to deliver value to each business more quickly,” said Thomas Pologruto, Blackstone’s Chief Data Architect.
“Working together, Beacon and Blackstone are finding new ways to leverage and extend Beacon’s scalable and secure technologies,” said Kirat Singh, Beacon’s CEO and Co-Founder. “Beacon is a capital markets pre-trade/risk and analytics platform with transparent source, giving Blackstone the unique ability to build on top of our models and focus resources on their own proprietary models and competitive edge.”
Beacon’s capabilities complement and readily integrate with Blackstone’s existing tech stack. Application and systems developers are spending less time managing common infrastructure and can transparently scale compute to the cloud. Quants find it easier to collaborate and reuse code. End-users benefit from faster deployment of new and enhanced functionality. Beacon and Blackstone are partnering to drive improvements in workflow efficiency, responsiveness to changing markets, and making it easier to capture new business opportunities.