Series A funding from investors will enable Radius Networks to invest in sales effort and execute product roadmap.
Radius Networks, a technology company that uses its machine learning location platform to help businesses conduct location-based transactions with their customers, announced that they closed a Series A financing round of $15 million. The investment round included participation from existing and new investors including Contour Venture Partners, Pendrell Corporation and Core Capital Partners. The funding will enable Radius Networks to further invest in the sales and marketing efforts around the company’s FlyBuyR SaaS product for in-store and curbside pickup.
Radius Networks’ core services leverage proprietary location technology for customer and asset tracking, curbside and in-store pickup, mobile loyalty and redemption, and mobile payment at the table. Radius Networks partners with some of the world’s largest brands to create efficient and frictionless customer experiences by decreasing customer wait time, assuring product quality, and increasing employee efficiency. As the global leader in location technology, Radius Networks’ solutions are installed in more than 30,000 locations, across 46 countries.
The Series A funding builds on two exceptional years of growth for Radius Networks, with growth rates of 2,000% year-over-year. With the recent launch of Radius Networks’ curbside and in-store pickup product, FlyBuy, the market momentum and roster of clients drastically increased in 2019.
“We are continuously impressed with the innovation and growth the team has demonstrated over the past few years,” said Bob Greene from Contour Venture Partners. “This financing will enable Radius Networks to keep up with market demand and drive business results.”
“We are very proud to have the financial and strategic support of our investor group,” says Marc Wallace, Radius Networks CEO. “With this round of funding, we will be able to execute our vision more rapidly, and fuel our momentum as a company.”
About Radius Networks
Radius Networks is a software company that uses machine learning to help companies conduct location-based transactions with their customers. The platform core services include customer and asset location, curbside and in-store pickup, mobile loyalty and redemption and mobile payment at the table. Clients of Radius Networks include some of the world’s largest brands and span multiple markets such as restaurants, retail, grocery, hospitality, and gaming.