Local Business Scouting Company Radius Raises $12.4 Million
Radius (formerly known as Fwix) is a startup company that helps sales people find local businesses. Radius has raised $12.4 million in funding from American Express. Investors that participated in this round include Comcast Ventures, Western Technology Investment, and BlueRun Ventures participating.
Radius was founded by Darian Shirazi and he turned Fwix into a local sales intelligence platform for businesses. Shirazi was one of Facebook’s first interns when he was 17. Radium has a database of over 20 million SMBs in industries across sectors like insurance and banking. The company pulls data from across the web including Yelp, Instagram, Twitter, and Facebook.
Radius takes the hyperlocal data and turns it into a dashboard that a sales force can use to keep up with local shops. The dashboard shows news, tweets, and reviews associated with each business. This data can be plugged into Microsoft and Salesforce.com CRM.
Shirazi pointed out that daily deal companies can use this data to determine whether they should run a business. The dashboard also shows whether restaurants in a neighborhood can run a Groupon deal. Radius can also report whether businesses have at least a three-star rating on Yelp. GoDaddy or other web hosting services can see if small businesses in an area have a standalone website. American Express can use Radius to target small businesses to use their credit services.