Predictive marketing startup Radius raises $50 million
Radius, the predictive marketing company founded six years ago by early Facebook employee Darian Shirazi, has raised another $50 million on the heels of four high-profile executive hires.
The infusion brings the San Francisco-based startup’s total funding to more than $125 million, at a valuation of between $500 million and $1 billion, Shirazi told Fortune. “It doubled our valuation,” he said.
That’s more than the money raised collectively by Radius’ three closest competitors, Infer, Lattice Engines and 6sense, he said. (Actually, their combined total is $125.7 million, according to updated information provided by 6sense.)
Radius’ software uses more than 50 billion data points, a service called the Radius Business Graph, to sort through a company’s existing customer information and identifies prospects that are similar, based on criteria selected by the marketing team. “It enables CMOs to be more effective at targeting their addressable market,” Shirazi said.
The platform is used by “hundreds” of businesses that sell to other businesses. For example, an office supplies retailer could use the software to create a list of small businesses that map to its biggest or most profitable accounts.
Radius won’t reveal its exact customer count, but it said revenue increased more than 400% over the past 12 months. It is finding significant traction among financial services firms, banks, payment processors, insurance companies, business suppliers, and software companies. Named accounts include American Express and Staples.
Radius’ latest funding was led by Founders Fund. It also included Formation 8, Glynn Capital Management, Jerry Yang’s AME Cloud Ventures, Salesforce Ventures, BlueRun Ventures, and Yuan Capital.
“The Radius Business Graph will reinvent B2B marketing in the same way that Facebook’s social graph revolutionized consumer Internet,” said Founders Fund partner Luke Nosek, in a statement.
It is having little difficulty getting top talent excited about that prospect.
Radius rounded out its executive team with four big hires last month. That includes a new COO, David Obrand, previously chief customer officer at Yammer along with a vice president of sales (past experience at Box, SuccessFactors and FedEx); senior vice president of strategy (Peter Thiel’s Mithril and Palantir Technologies); and senior vice president of marketing (SAP and Towers Perrin).
The new funding will be dedicated primarily toward product development and on building out the Radius customer success organization, Shirazi said. The company doubled its workforce to slightly more than 100 people over that past year.
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UPDATED, July 29, 2015: Modified spelling of 6sense. Clarified total funding for cited Radius rivals.