Marketing software company Radius announced a new round of funding worth $54.7 million. The company, started by former Facebook engineer Darian Shirazi, takes a "big data" approach to marketing, and uses data science to hone targeted messages for the right consumer groups.
"We believe that the current data and analytics that sits between business transactions is inaccurate, underdeveloped and in need of disruption," Shirazi said in a blog post.
The San Francisco company uses public, government and partner sources to track more than 50 billion data points on 20 million businesses. This information goes into the Radius Index, which helps clients refine their strategies, including scaling a campaign to a national platform, increasing sales, or seeing which customer segments are the most profitable. Radius specifically focuses on b-to-b marketers, and its clients include Adobe Systems, American Express, PayPal, Capital One and Gannett.
The new round of funding will increase Radius's 50-person team and expand on its mission to improve data science in marketing. The funding comes from a wide range of groups and individuals, including Founders Fund, Glynn Capital Management, Formation 8, Yuan Capital, former Morgan Stanley CEO John Mack, ex-Microsoft head of corporate strategy Charles Songhurst, actor and entrepreneur Jared Leto, BlueRun Ventures, Dave Morin, Kevin Colleran, and Western Technology Investments.