The Globe and Mail reports in its Wednesday, June 10, edition that Beacon Software, an emerging rival to Constellation Software, has raised $225-million to fund a growth plan that leans into arming acquired companies with artificial intelligence tools. The Globe's Sean Silcoff writes that Beacon said Tuesday it had raised the funds in a deal led by existing investor General Catalyst and newcomer HarbourVest Partners, and backed by past and new financiers including Canada's Intrepid Growth Partners. Beacon Acquisition Corp., a two-year-old company, is now valued at over $1.4-billion following a recent funding deal announced this week (all figures U.S.). This comes just months after raising $250-million at a $1-billion valuation, led by General Catalyst, Lightspeed Venture Partners and D1 Capital. With the latest deal, Beacon's total funding now exceeds $550-million. Beacon was co-founded by chief executive officer Nilam Ganenthiran -- a former D1 partner and former president of Instacart -- and Divya Gupta, former Sequoia Capital partner. Mr. Ganenthiran was inspired to start Beacon 2-1/2 years ago as the first generation of artificial intelligence coding agents came to market.