Radius Networks secured a $2M funding round this week, solidifying its place as a leading provider of services that support a world of beacons.
The funding comes on the heels of growing interest in deploying proximity-based technologies and the kinds of tools that Radius provides to support their roll-out, and along with a recent $3.1M investment in Estimote (a leading provider of Bluetooth LE powered beacons) is the first hint that 2014 will shape up to be the Year of the Beacon.
Marc Wallace, CEO and Co-Founder of Radius commented that the investment was driven by a steady stream of customers for the Radius package of services: “We are seeing tremendous interest and opportunity in the proximity market, specifically in the area of iBeacon solutions and services.”
We’re huge fans of Radius. They’ve been releasing a steady stream of products and frameworks that support deploying beacons. From the first Android framework to support beacon-based apps to Proximity Kit, a cloud-based platform that allows developers to set up geofencing and beacon management, they’ve delivered on the promise of making it easy for developers to create proximity solutions.
“Radius Networks’ technology innovation and ability to deliver and execute has established this team as a leader in the location and proximity services market. The influx of interest in iBeacon proximity solutions has led to huge demand for Radius Networks’ ProximityKit and their Android and iOS iBeacon tools and libraries,” remarked David Steinberg, Radius Networks chairman and a lead investor in the financing.
In the world of beacons there are the devices – the things you put on the wall of a museum or coffee shop that ‘signals’ to a user’s application. And there are the back-end frameworks and APIs that drive the actions of your app.
Radius has excelled at the latter – and at providing all of the major component of the ‘plumbing’ of an iBeacon solution in a way that allows developers to create their own ‘stack’ of code, beacon and analytics. We think of them as the Google App Engine for a world of beacons, and we’re excited to see what they’ll pull off with this new round of funding.
Congratulations Radius – and as always, Be the Beacon(TM).
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