Beacon raises $225M to acquire and optimize software companies

Beacon Software Inc. raised $225 million in Series C funding from HarbourVest and General Catalyst to acquire and optimize small software businesses. The Toronto-based startup, founded by former Instacart president Nilam Ganenthiran, has raised over $550 million total. Beacon boosts portfolio companies' EBITA, which grew over 50% in the past year.