Sales and marketing intelligence service Radius has raised a $12.4 million round of funding from American Express, Blue Run Ventures, and certain other existing investors. It says that the investment will go towards additional development of its platform to enable its 10 million users to better target and reach small businesses.
Started by Darian Shirazi, who is notable for being Facebook’s first intern, Radius is geared towards helping the small business market better reach their targets through data, information, and insights. Formerly known as Fwix, the company has a comprehensive database of over 20 million business leads for marketers across a variety of industries, such as business insurance, payment services, banking, credit cards, and more. The data is curated from all across the web including social media and location-based content.
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With this additional infusion of capital, Radius says that it will work to improve its sales intelligence platform while also expanding its database of small- and medium-sized businesses as it has its technology infrastructure “track the health of small businesses in the United States.”
Shirazi says that “small business is the fastest growing segment of the US economy and accounts for a staggering 99.7 percent of all employers in the US. Understanding what makes small businesses grow and become successful is vital for our customers as they look to target this market.” The addition of American Express as an investor appears to be a fit for Radius as the credit card carrier has been known to support the same customers.
Harshul Sanghi from American Express says: “We are impressed by Radius’ dedication to understanding what makes small businesses successful. As Radius continues to build its comprehensive index of information on small businesses, we believe they offer a fantastic opportunity to efficiently understand the needs of the small business owner.”
Previously, the company raised $6.75 million in funding from Comcast Ventures and Blue Run Ventures.
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