Venture Capital News: Radius Closes $50M Series D Round
SAN FRANCISCO, CA, Radius, the business-to-business predictive marketing software company, today announced a $50 million funding round.
The round was led by Founders Fund with participation from Formation 8, Glynn Capital Management, Jerry Yang's AME Cloud Ventures, Salesforce Ventures, BlueRun Ventures and Yuan Capital. Funds from this new round will directly impact the company's continued development of Radius' predictive marketing software suite and its proprietary data science engine (the Radius Intelligence CloudSM), which measures 30 million companies across 50 billion data points.
'The expectation is that 'the data is out there,' but no matter how many tools, scientists or databases they acquire, CMOs struggle to gain the insights necessary to effectively pursue the largest market opportunities,' said Darian Shirazi, CEO and founder of Radius. 'We address this challenge with a single, beautifully designed application that allows CMOs to navigate, define, expand and acquire their entire customer universe.'
Rapid Growth and Industry Disruption
This new funding comes at a time of rapid growth for the company. Within the last 12 months, Radius has:
Increased revenue by over 400 percent
Secured Fortune 100 customers in the retail, finance and technology sectors
Doubled its employee base
Hired executives from Salesforce, Box, SuccessFactors and Yammer
'The Radius Business GraphSM will reinvent B2B marketing in the same way that Facebook's social graph revolutionized consumer Internet,' said Luke Nosek, Partner at Founders Fund. 'Radius unlocks a wealth of data previously inaccessible to businesses, allowing them to shift their marketing strategies in real time to maximize growth and revenue.'
'The team at Radius has pulled ahead with a clear network effect, which means that their data is getting updated hundreds of millions of times a day. It's no surprise they are becoming the leading platform for marketing to businesses, and it's clear they're just getting started. I'm really excited by the possibilities of what Radius will enable on top of the U.S. business graph,' said Joe Lonsdale, investor and founding member of Formation 8.
Propelling the Expansion of the CRM and Analytics Market
Industry analysts predict that the total addressable market for CRM will rise from $35 billion to $48 billion when combined with analytics and is estimated to reach $82 billion by 2018. Radius' direct integration with Salesforce presents users of both systems with a self-learning platform that enhances customer insights and enables direct deployment of predictive analytics to customer acquisition programs.
'Salesforce Ventures empowers startups building technologies that revolutionize how companies connect with their customers in entirely new ways' said John Somorjai, EVP of corporate development and Salesforce Ventures, Salesforce. 'Radius' predictive marketing software transforms how companies find new market opportunities and connect with the right customers, and we are excited to help them accelerate their growth.'
How Radius Works
Radius delivers predictive marketing software that changes the way CMOs discover new market opportunities, acquire customers and measure success. Upon connecting their CRM to the Radius Intelligence CloudSM, marketers can instantly uncover customer insights and immediately drive rapid customer growth using predictive analytics, powerful segmentation and targeting, and seamless integrations.
While Radius represents the new breed of data science software, its simple design and effortless implementation enables non-technical marketers to do what they do best: connect with their entire universe of customers and prospects in more meaningful, relevant ways. The result is a CMO that owns customer insights and revenue accountability.
Radius was founded six years ago on the premise that finding the best business opportunities is often still much harder than it needs to be. Built upon cutting-edge data science, Radius today delivers intuitive software that enables company leaders pressured with complex growth challenges to not only find solutions, but to think bigger. Using Radius, companies of all sizes can gain first-mover advantage, saturate market share and grow their customer lifetime value. Radius is headquartered in San Francisco, Calif. For more information, please visit www.radius.com.
About Founders Fund
Founders Fund invests in companies using science and technology to solve the world's most difficult problems. The firm and its partners have been early backers of some of the most prominent companies of the past decade, including Airbnb, Facebook, Palantir Technologies and SpaceX. Founders Fund pursues a founder-friendly investment strategy that provides maximum support with minimum interference. More information can be found at www.foundersfund.com.
About Salesforce Ventures
Salesforce Ventures - Salesforce's corporate investment group - invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding, as well as access to the world's largest cloud ecosystem, and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 100 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.
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