Corporates Comcast, American Express, BBVA and Salesforce are set to exit US-based data aggregation software provider Radius Intelligence after online lender Kabbage agreed on Tuesday to acquire it for an undisclosed amount.
Founded in 2009 as Fwix, Radius began life as a news aggregation service before pivoting to supply data analytics software that lets enterprise customers assemble and evaluate information on their peers and clients.
Radius currently offers three products that respectively focus on audience data collection, business-to-business data analytics and integration with customer relationship management platform Salesforce.
Kabbage plans to leverage the company’s expertise to better identify the cash flow requirements of its lending clients. It will bring over about 20 of Radius’s team as well as Joel Carusone, who was appointed company CEO in October 2018.
Radius had raised at least $137m in funding. Salesforce’s corporate venturing arm, Salesforce Ventures, backed a $50m series D round that was led by Founders Fund in 2015 with contributions from Formation 8, Glynn Capital Management, AME Cloud Ventures, BlueRun Ventures and Yuan Capital.
Mass media group Comcast first invested in the company in 2012, when its Comcast Ventures unit joined BlueRun Ventures to provide $6.8m.
Radius received $12.4m in a January 2013 round featuring Comcast Ventures, payment services firm American Express, BlueRun Ventures and WTI before adding an undisclosed amount from BBVA Ventures, financial services firm BBVA’s now defunct corporate VC unit, four months later.