Observed Signal · Feb 22, 2022 · Funding · Source: CMSWire · Impact: 3/5 · Sentiment: Positive
Radar Raises $55 Million Series C for Location-Aware CX
Radar, a geofencing and location-based services platform, announced it raised $55 million in Series C funding at a $365 million valuation. The round was led by Insight Partners, with participation from existing investors Accel, Two Sigma Ventures, and Heavybit, bringing Radar's total funding to $85.5 million. The company plans to use the capital to scale its location-aware customer experience platform, expanding building blocks for retail, quick-service restaurants, logistics, travel, hospitality, and entertainment. In 2021, Radar saw more than 10,000 developers sign up and its enterprise customer base more than double. Customers include Panera Bread, American Eagle Outfitters, T-Mobile, Afterpay, and Sleeper. Radar also partnered with Panera to manage 21,000 locations. The company emphasizes that it does not sell or share consumer data, positioning itself apart from traditional ad tech location players.
Significant Series C funding for a location-based CX platform with major enterprise clients, indicating continued investment in location-aware marketing technology and customer experience infrastructure.
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Key Takeaways & Evidence Grounding
- Radar raised $55 million in Series C funding at a $365 million valuation.
- The Series C round was led by Insight Partners with participation from Accel, Two Sigma Ventures, and Heavybit.
- Radar's total funding now stands at $85.5 million.
- More than 10,000 developers signed up to build location-based experiences with Radar in 2021.
- Panera Bread implemented Radar's location technology across 21,000 locations.
Connected Companies & Entities
10 Entities mapped“Geofencing platform Radar announced in early February that it has raised $55 million in Series C funding with a $365 million valuation....”
“The round was led by New-York based global venture capital and private equity firm Insight Partners, with participation from existing invest...”
“Today, Radar allows leading enterprises, such as Panera Bread, American Eagle Outfitters and T-Mobile, as well as cutting-edge startups like...”
“Today, Radar allows leading enterprises, such as Panera Bread, American Eagle Outfitters and T-Mobile, as well as cutting-edge startups like...”
“Today, Radar allows leading enterprises, such as Panera Bread, American Eagle Outfitters and T-Mobile, as well as cutting-edge startups like...”
“The round was led by New-York based global venture capital and private equity firm Insight Partners, with participation from existing invest...”
“Radar integrates with other rapidly growing technology partners like Braze, Amplitude, Segment and Olo to power best-in-class customer exper...”
“Radar integrates with other rapidly growing technology partners like Braze, Amplitude, Segment and Olo to power best-in-class customer exper...”
“Radar integrates with other rapidly growing technology partners like Braze, Amplitude, Segment and Olo to power best-in-class customer exper...”
“Radar integrates with other rapidly growing technology partners like Braze, Amplitude, Segment and Olo to power best-in-class customer exper...”
Related Market Signals & Shifts
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