- Kabbage announced that it has acquired small-business data platform Radius Intelligence. These are the details.
Atlanta-based Kabbage — a data and technology company providing small businesses cash flow solutions — announced it entered an agreement to buy the assets of Radius Intelligence. Radius Intelligence is a leading small-business data platform and this purchase allows Kabbage to more deeply understand and serve small businesses as it adds insights from over 20 million U.S. small businesses to its platform.
Radius is considered a recognized technology leader in data acquisition and entity resolution. And it offers the ability to parse through numerous, disparate, and complex data sets and unify them into a single trusted data record.
As Kabbage is expanding its technology platform to solve more comprehensive cash flow needs for small businesses, Radius’ insights will enhance Kabbage’s ability to deliver customers the right experience at the right time. And at the close, Kabbage will add nearly 20 team members to its San Francisco office as well as Radius CEO Joel Carusone to support the integration of the two companies and technology platforms.
“Data has always been our competitive advantage, and Radius strengthens it by adding millions of new and verified small business insights to our platform,” said Kabbage CEO Rob Frohwein in a statement. “These new technology and data-analysis capabilities further differentiate us from other SMB-focused FinTech companies as we dramatically expand our product set and service platform to address the unique cash flow needs of small businesses.”
Kabbage is known for innovating a data and technology platform to provide small businesses automated cash flow solutions, including its online lending platform which allows small businesses to quickly access ongoing lines of credit up to $250,000. And its technology analyzes small businesses’ real-time data such as online sales, banking information, shipping activity, and dozens of other sources to understand performance to provide a fully automated funding decision in minutes.
“We’re thrilled to join the Kabbage team. As a company dedicated to small business analytics and data management, we’ve always had a deep respect for Kabbage’s data-driven technology and focus,” added Carusone. “Our companies have complementary technical architectures and domain experience for decision making. With Kabbage, we can build a more sophisticated analytics solution to identify, reach and serve small businesses.”
So far, Kabbage has provided over 200,000 small businesses access to over $7 billion of working capital. And Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, Mohr Davidow Ventures, and several others. All of Kabbage’s U.S.-based loans are issued by Celtic Bank (a Utah-Chartered Industrial Bank, Member FDIC)
Prior to the acquisition, Radius raised more than $100 million from investors such as Founders Fund, David O. Sacks, Jared Leto, AME, and Salesforce Ventures.
