Today, we’re pleased to announce our investment in Beacon Software—a company reimagining how to build and scale software consolidation platforms using artificial intelligence.
When we first met Nilam Ganenthiran in 2021, we knew we were sitting across from someone special. Since that initial conversation, we’ve been close thought partners, discussing and shaping the ideas that would ultimately become Beacon and seeing Nilam in action firsthand. Nilam’s track record speaks for itself: he joined Instacart as one of its first 15 employees and scaled it as President to over $2B in revenue and 2,000+ employees. But what stood out most wasn’t only his individual accomplishments, it was the vision he and his team shared for how AI could fundamentally transform software consolidation. Together, they represent the rare combination of proven scaling expertise and deep technical innovation needed to revolutionize the fragmented vertical software landscape.
The opportunity is immense. There are tens of thousands of bootstrapped software businesses across the U.S., from youth sports management platforms to campground reservation systems, that serve essential functions in niche markets and collectively hold enormous value and growth potential. These companies have built deep customer loyalty and retention in established market niches, but often lack the resources to scale their ambitions.
Software consolidation isn’t new, but Beacon is taking a fundamentally different approach: what if you could automate and enhance every step of the consolidation playbook using AI? From sourcing through value creation, Beacon is building the infrastructure to operate at unprecedented scale and efficiency while maintaining its commitment to partnering with founders and growing their businesses for the long term.
This investment sits at the intersection of Lightspeed’s core strengths and expanding capabilities. For over two decades, we’ve backed enterprise software companies, working closely with founders, and helped build immensely valuable businesses. We understand these markets and their potential. Beacon mirrors this ethos in its partnership-minded approach to every founder they work with—offering flexible terms, transparent processes, and a platform of software modules and shared services to help companies achieve their ambitions.
Through our Growth Private Equity strategy, we’re exceptionally well positioned to support companies like Beacon that are building scaled platforms in today’s evolving private markets. It’s a natural evolution of our investment focus, combining our deep technology heritage, growth-stage scaling expertise, and M&A-focused capabilities to capitalize on this significant opportunity.
What excites us most about Beacon is the combination of proven execution and transformative vision. Nilam and Divya are building something we believe is genuinely differentiated—using advanced AI and innovative technology to revolutionize a time-tested business model.
We’re proud to partner with Beacon as they build the next-generation software platform that empowers businesses to reach their full long-term potential.
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