Small businesses have been notoriously difficult to track and identify because so many new businesses are founded each month. We believe that building a platform that tracks small business health and information is important. Small businesses represent 70% of America’s employment and economy and they’re responsible for adding millions of jobs per year. Several companies have tried to track small businesses and understand them better, but the data is fragmented and difficult to normalize. At Radius, we intend to solve this problem and build the platform that can clearly read the pulse of the small business economy.
Today we welcome American Express as an investor in the company. Amex was founded in 1850 as a mail company and has been a fundamental element of the US economy for more than a century. The American Express brand is synonymous with trust, quality, and consumer satisfaction. The OPEN initiative at Amex has been one of the most successful products and campaigns to attract small businesses and bring them to the forefront of the economy. OPEN Forum, for example, has been a way for small businesses to learn and build their businesses for the new economy.
When we first met the Amex OPEN team, we realized that we were both so strongly aligned. We both care about small businesses and both want to better understand such a large, yet fragmented, segment of the US economy.
This is a big step forward for Radius and Amex — it shows our commitment to small business is real and shows Amex’s commitment to innovation and technology. We’re looking forward to this partnership and ways we can both build the small business ecosystem together.
Founder & CEO, Radius