Radius Networks, which uses machine learning capabilities to complete location-based transactions with customers, has bagged $15m in its Series A.
The round comprised of both existing and new investors including Contour Venture Partners and Core Capital Partners.
Funds from the round will be used to increase sales and marketing efforts of its FlyBuy SaaS solution for in-store and curbside pickup.
Radius uses location technology for customer and asset tracking, curbside and in-store pickup, mobile loyalty and redemption, and mobile payment at the table. Its solution is designed to automate payment processes and improve the customer experiences.
Flybuy was the company’s newest product that it launched. It automates the curbside delivery experience, which enables a consumer to park up next to a story and an employee brings out the items they have bought. It can also be used to automate the pickup of items in-store.
The FinTech has witnessed a three-year growth rate of 2,000%.
Radius Networks CEO Marc Wallace said, “We are very proud to have the financial and strategic support of our investor group. With this round of funding, we will be able to execute our vision more rapidly and fuel our momentum as a company.”
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