Today, LoginRadius is providing such “social infrastructure” along with other services to some 70,000 website customers world-wide. It was ranked 26th among Canada’s Top 100 Startups (by TechVibes) and has partnerships in place with Amazon.com, Mozilla, Microsoft, DynDNS, and X-Cart.
But LoginRadius is still an Edmonton-based start-up company, working closely with TEC Edmonton Executive-In-Residence Shaheel Hooda to grow in a business-like way. Its head office is now located in downtown Edmonton, in TEC Edmonton’s TEC Centre. Staffing has doubled in Canada, with engineers, sales staff, marketing specialists, customer relations and developers adding over 10 new positions to the original four-person company. In India, a 15-person office in Jaipur is rapidly expanding to 25.
How does LoginRadius make money? “Three ways,” says Soni. “The basic version of our solution is out on the Internet for free use by small websites. But as the client gets bigger, a ‘premium’ version comes into play with a monthly licence fee. And for even bigger customers, we also offer implementation and configuration services.” Once LoginRadius reaches a critical mass of 500,000 websites (of the 500 million in the world), its platform data capabilities will be of great value. “Facebook, Amazon, all the big social media players are happy to offer Open ID. It’s all about Big Data and how the users’ Internet movements can be tracked, in a non-identifiable way,” says Soni. “That’s where the ultimate pay-off is likely to be.”
“LoginRadius has a lot going for it,” says Hooda. “It’s taken advantage of the city and the province’s startup ecosystem, starting off with StartupEdmonton, entering and being a runner-up in VenturePrize, using TEC Edmonton’s mentoring and coaching services, and using Alberta’s Deal Generator to pitch for angel funding.
“LoginRadius is well on its way to becoming a known company in the international online world. Its revenues continue to grow, and it’s preparing for a seed round of financing in the $750,000 range to scale up sales and marketing activity in a significant way.”
So the next time you are staring at your computer screen, trying to remember some long-forgotten password, remember: LoginRadius will soon make that frustration a distant memory.