RadiusIM, an online IM firm which mixes in elements of social networking and location based functionalities, has raised about $500K in funding from angel investors. The NYC-based company was founded by Zohar Yardeni and John Londono, previous co-founder of CallStreet, a financial information company, which was sold to FactSet Research in 2004.

RadiusIM is a web-based IM clients that can plug into other IM services such as MSN messenger, AIM, Yahoo, GoogleTalk and others…and users can find and cat with other RadiusIM users in their local vicnity. The service has competition from similar services like Meebo, Imeem and others.