Market Overview

Beacon Platform, Inc. Closes Series A Funding Round


Beacon Platform, Incorporated ("Beacon"), a global financial technology
company, has closed its Series A funding round, led by PIMCO, as
previously announced. Barclays, a leading global investment bank, and
Global Atlantic Financial Group, an innovative provider of retirement,
life, and reinsurance products, completed the round.

Beacon licenses its developer platform, infrastructure services, and
front office applications to institutional clients. Since its launch in
2014, Beacon has established itself as a leader in secure, cloud-based
platform technology for the financial services industry. Beacon's
clients include global investment banks, asset managers, insurance
companies, and commodities trading firms.

"The Series A funding round represents an important milestone in
Beacon's vision of building the first operating system for finance: an
ecosystem where quantitative developers, engineers, data scientists, and
front-office users can collaborate and innovate within their own
controlled, secure, cloud-based platform environment," said Mark
Higgins, Chief Operating Officer of Beacon Platform, Inc.

"Barclays is excited to support Beacon through this investment as they
grow their engineering team and expand the platform's capabilities. Work
to date conducted by our developers and data scientists has demonstrated
significant potential for the platform. We look forward to helping
further improve these tools as the ability to leverage data and digital
assets becomes increasingly important in the financial services
industry," said Guy Saidenberg, Global Head of Distribution and
Structuring at Barclays.

"The team at Beacon have been great partners. We look forward to
continuing our relationship with them to enhance our insurance and
investment analytical capabilities," said Deva Mishra, Deputy Chief
Investment Officer of Global Atlantic Financial Group.

"The investments in our Series A funding round offer a strong validation
of Beacon's business model and our platform's capabilities. Our
investors' extensive knowledge, experience, and strong relationships
will help us enhance our platform and provide innovative products and
services to all of our customers," said Kirat Singh, Chief Executive
Officer of Beacon Platform Inc.

About Beacon

Beacon Platform, Inc. is a financial technology company offering the
only vendor solution for a cloud-based, end-to-end development and
production platform, which can meet the stringent security requirements
of leading financial institutions. With Beacon's open architecture,
transparent source code, and automated infrastructure solutions, clients
who license Beacon can build in-house functionality on a platform that
has been proven at some of the largest financial institutions in the
world. Beacon gives financial and quantitative developers the tools they
need so that they can focus on the business rather than the plumbing and
process. And for business users, Beacon delivers fully integrated
applications for analytics, pricing, risk management, and more. Beacon
was founded in 2014 by the senior technologists who worked with SecDB at
Goldman Sachs and created Athena at JP Morgan and Quartz at Bank of
America Merrill Lynch. Beacon has over 70 employees with offices in New
York, London, Berlin, and Tokyo.


PIMCO is one of the world's premier fixed income investment managers.
With its launch in 1971 in Newport Beach, California, PIMCO introduced
investors to a total return approach to fixed income investing. In the
45+ years since, PIMCO has continued to bring innovation and expertise
to its partnership with clients seeking the best investment solutions.
Today PIMCO has offices across the globe and 2,150+ professionals united
by a single purpose: creating opportunities for investors in every
environment. PIMCO is owned by Allianz S.E., a leading global
diversified financial services provider.

About Barclays

Barclays is a transatlantic consumer and wholesale bank offering
products and services across personal, corporate and investment banking,
credit cards and wealth management, with a strong presence in our two
home markets of the UK and the US. With over 325 years of history and
expertise in banking, Barclays operates in over 40 countries and employs
approximately 80,000 people. Barclays moves, lends, invests and protects
money for customers and clients worldwide.

About Global Atlantic Financial Group

Global Atlantic Financial Group, through its subsidiaries, offers a
broad range of retirement, life and reinsurance products designed to
help our customers address financial challenges with confidence. A
variety of options help Americans customize a strategy to fulfill their
protection, accumulation, income, wealth transfer and end-of-life needs.

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