Radius Intelligence Inc., a provider of predictive marketing software for businesses, raised $50 million in new financing to continue to invest in its software and proprietary data-science engine.
The latest round was led by Peter Thiel’s Founders Fund and brings the total raised to more than $125 million, the company said in a statement Wednesday.
“We wanted to make sure that the person leading the round was going to be really focused on, ‘How do we grow it into a $10 billion-plus company?’ not ‘How can we get a quick financial return?’” Chief Executive Officer Darian Shirazi said by phone. “And Founders Fund really are long-term thinkers and I’ve always respected their philosophy.”
San Francisco-based Radius enables its clients, who are typically chief marketing officers, to segment particular groups of their customer base, and gather data on what their next move might be, what ads they respond to most and what products most appeal to them. In turn, companies can use these precise analytics to “surgically” customize marketing campaigns and increase sales.
Other investors include Jerry Yang’s AME Cloud Ventures and Salesforce Ventures, which Shirazi said are new to this round. Formation 8, Glynn Capital Management, BlueRun Ventures and Yuan Capital also participated.
The money raised also will be used to add employees and possibly make a few small acquistions, Shirazi said.
Revenue at Radius, founded six years ago, has surged by more than 400 percent in the past 12 months, the company said in the statement. The employee base has doubled in that period.
Radius’s data-cloud product is integrated onto Salesforce.com Inc.’s platform. The partnership synchronizes the data available and give users a real-time, unified platform for their personal consumer analytics, according to Shirazi. Salesforce is the leading provider of customer relationship management applications, according to Bloomberg Intelligence.