Kabbage will buy small-business data provider
The online lender Kabbage has agreed to acquire Radius Intelligence, a San Francisco company that provides lead-generation data about U.S. small businesses.
Under the deal, Kabbage will add Radius Intelligence CEO Joel Carusone and nearly 20 other employees, according to a press release Tuesday. The sale price was not disclosed.
The acquisition is expected to provide Kabbage, an Atlanta company that specializes in small-business loans, with intel about more than 20 million U.S. companies that it can use to better understand the market.
“Data has always been our competitive advantage,” Kabbage CEO Rob Frohwein said in the release, “and Radius strengthens it by adding millions of new and verified small-business insights to our platform.”
Radius Intelligence markets its products as a way to improve business-to-business sales efforts. The company says that its data allows customers to pinpoint more customers with greater efficiency.
Customers of Radius Intelligence have included Kabbage, American Express, Square and Lending Tree, according to the company’s website.
“We’re thrilled to join the Kabbage team,” Carusone said in the release. “With Kabbage, we can build a more sophisticated analytics solution to identify, reach and serve small businesses.”