BOSTON--(BUSINESS WIRE)--Beacon, the premier all-you-can-fly membership for frequent fliers in the Northeast, today announced that it has completed $7.5 million in Series A and other financing led by Romulus Capital with participation from MiVentures, Western Technologies Investment, and several other early stage investors.
Beacon is bringing an innovative, convenient and sleek travel experience to the Northeast, with plans to launch in late summer 2015. For as little as $2,000 a month, Beacon offers unlimited access to regularly scheduled flights, with reservations, changes and cancellations made as little as 20 minutes before departure at no additional cost, via the Beacon app. Beacon’s service will provide efficient travel between New York and Boston, as well as the seasonal destinations of Nantucket and the Hamptons.
Three of Beacon’s co-founders – Wade Eyerly, Cory Cozzens and Reed Farnsworth – were previously co-founders of California-based Surf Air, which pioneered the subscription travel concept on the West Coast. Ryan Morley is also a co-founder of Beacon.
Beacon CEO and co-founder Wade Eyerly said, “Traveling doesn’t need to be a cattle call kind of experience. Frequent travelers in the Northeast Corridor are eager for options that go beyond the airline shuttles and the Acela. We are committed to helping travelers save time during their commutes. We’re already seeing demand well beyond our initial expectations. We’re excited about the support we’re getting from our investors and looking forward to taking off with our first flights in just a few weeks.”
Romulus Capital led the recently completed Series A funding round. The funding will be used primarily for sales, marketing, and growth.
“The Beacon approach has incredible potential to disrupt the tired, old and not very pleasant experience of point to point travel, not only between Boston and New York, but across the country,” said Neil Chheda, co-founder and General Partner at Romulus Capital. “The subscription model has caught fire in many industries already, and consumers instinctively understand it. The travel industry is ripe for change and the Beacon approach provides convenience, comfort and a breath of fresh air for travelers who are ready for a better way to fly.”
The Beacon experience incorporates a range of conveniences and comforts that improve the entire travel experience. Beacon offers high-touch concierge service throughout the travel process; a custom booking app that streamlines and simplifies the reservation management process; and private terminals paired with executive aircraft, both designed to help the traveler stay productive and comfortable while on the ground and in the air. All members joining Beacon before August 1st enjoy exclusive Inaugural Member benefits as well as a waived $1,000 initiation fee.
To learn more about Beacon, please visit www.flybeacon.com.
Launching September 15th, Beacon is an unlimited flight solution for the Northeast corridor. Started by the team behind Surf Air, Beacon is the new travel solution for the Northeast. For as low as $2,000 a month, Beacon members will get access to regularly scheduled flights, operated by one of Beacon’s licensed operating partners, on mid-sized executive aircraft. With concierges on location at the private air terminals used by Beacon, standing ready to help with everything from car rentals, to drinks or flowers, the Beacon team is marrying high-touch service with air travel to create a one-of-a-kind experience. To learn more about Beacon, the team, or membership please visit www.flybeacon.com, @flybeacon, facebook.com/flybeacon and instgram.com/flybeacon. Beacon acts as agent for its members, and does not own or operate the aircraft used for its service. Air carriers holding the necessary government authorizations operate all flights provided to Beacon members.
About Romulus Capital:
Romulus Capital is a seed-stage venture capital firm focused on building, rather than betting on, the next big technology and science-enabled companies. The firm partners with entrepreneurs looking to become industry leaders and works with them to build world-class teams, win major customers, iterate on product, and think strategically about building a strong foundation. The firm was founded out of MIT in 2008. More information is available at http://www.romuluscap.com.
About Western Technology Investment:
Founded in 1980, Western Technology Investment ("WTI") is a Silicon Valley-based venture firm that specializes in investments in early, emerging and late stage technology companies. Portfolio companies include Facebook, Google, Palantir, Juniper Networks, InvenSense, Brocade, Cerent, Postini, Youku and IronPort. WTI is currently investing out of its 14th fund. Additional information can be found at www.westerntech.com.