Toronto-based Beacon Software has closed $250 million in Series B financing to purchase smaller, niche software and services firms, embed artificial intelligence (AI) into them, and grow them over the long run.

The AI holding company claims that it has already acquired and partnered with dozens of software and services companies—across areas like education, finance, logistics, and recreation—since its launch last year. More than 30 percent of them have been Canadian. This group includes Saskatchewan’s Let’s Camp, an online platform to connect campers to campgrounds.

“I realized Main Street businesses everywhere need to be equipped for the technology revolution ahead.”

Not to be confused with the Toronto and Montréal FinTech startup of the same name, Beacon’s AI rollup strategy is report

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