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Radius Raises $12.4M To Pivot To Local Sales Lead Intel

January 23, 2013

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San Francisco-based Radius (fka FWIX) has raised $12.4M from American Express with Comcast Ventures, Western Technology Investment and BlueRun Ventures. We had followed FWIX because we were interested in its local data sales business model. Fwix licensed meta-data like street addresses, hours, food offered, etc. as well as local news aggregation. We thought it was an OK business to be in but not great as there are other places to get that data and not an unlimited number of sites that will for it.

So it made sense that Fwix pivoted, changed its name to Radius and is now selling sales data for leads on SMBs. Radius collects data using the filters it set up with Fwix to deliver a dashboard so that sales people can track changes to local businesses. One challenge Radius tackles is that 10% of small businesses move, go out of business are are born each month.

How do you use Radius? You can manage filters like ratings, increasing or decreasing traffic, minority-owned. etc. Fwix says that daily deals companies like Groupon can use Fwix to spot new local companies that are growing fast that might be good partners.

The pivot from Radius to Fwix makes sense as there’s a lot more money in selling tools to sales-people. And we don’t know of a good rival product. The challenge seems to be that is Radius better than  a Google search? And how do you sell to sales people who might use the product.

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