SAN FRANCISCO, Jan. 9, 2014 /PRNewswire/ -- Radius, the data technology company that helps B2B marketers find their best customers, today announced that it has raised $13 million in financing led by venture capital firm Formation8 Partners. Formation8 Founding Partner Joe Lonsdale will join Radius's board of directors.
Previously, Lonsdale co-founded Palantir Technologies, a private company focused on analyzing, integrating and visualizing data — especially in the global defense and finance space. Lonsdale is also the Co-Founder and Executive Chairman of Addepar, a private wealth management technology company that helps manage complex global portfolios through data analysis.
"Anyone who works in the analytics space knows Joe's massive contribution to the industry," said Darian Shirazi, CEO and Co-Founder of Radius. "His depth of experience in finding solutions to previously unsolvable problems and turning those solutions into scalable businesses makes him an invaluable addition to our board."
In support of Radius's vision to develop breakthrough technologies that make it easier for all companies to understand and do business with each other, the company plans to deploy these new funds to grow its data and technology team, to expand beyond the thousands of sources it currently indexes, and to build out its sales organization.
"Our thesis at Formation8 is to invest in smart enterprise companies that transform industries," said Joe Lonsdale, Founding Partner at Formation8. "Radius's vision to reinvent how business information is gathered and exchanged has the potential to have immense positive macroeconomic effects."
Participants in this round include previous investors BlueRun Ventures and CEO Darian Shirazi. Lonsdale joins current Radius board members Scott Thompson, CEO of Shoprunner and former President of PayPal; Andrew McCollum, a member of the Facebook founding team; Jonathan Ebinger, General Partner of BlueRun Ventures; and Radius CEO Darian Shirazi.
For marketers looking to boost ROI, Radius provides the one place you need to segment and identify your ideal SMB customers. Finding and engaging with the right local businesses can be overwhelming due to the disorganized — and often contradictory— nature of local business information. Radius subscribers build perfectly targeted customer segments from amongst the 27 million U.S. business records within Radius to find their next best customers.
Radius is headquartered in San Francisco. Investors include American Express Ventures, BlueRun Ventures, BBVA Ventures, Stanford University, and Western Technology Investments. Learn more at radius.com and follow the company on Twitter @radius.
About Formation8 Partners
Formation8 is a venture capital firm that provides financial and strategic capital to early growth smart enterprise and energy technology companies. We support entrepreneurs who seek to transform the most important global industries by solving hard problems with technology solutions. Partnership is in our DNA. We value trusted relationships with entrepreneurs, investors, and strategic partners through our global network.
As a partner to young companies, our goal is to create long-term, sustainable value through operational expertise and business development partnerships. We leverage our deep and distributed networks to provide the market knowledge, deployment expertise, sales channels, and relationships needed to expand into and thrive in Asia. With local teams in Korea, China and Singapore, we connect Silicon Valley start-ups to dynamic multinational corporations in these geographies.
Radius Intelligence, Inc.
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