Cardlytics Closes $18m Investment Deal

In the US, Cardlytics - which has developed technology to track consumers' actual purchases and reward them according to their individual purchase behaviour - has raised $18m in new equity to support its expansion plans.

Cardlytics' transaction marketing platform enables advertisers and retailers to use consumer transaction data to target customer offers through the online banking channel, and then measure ROI.

It can also be used to find and target consumers who are already spending with competitors; send existing customers new offers; target consumers based on zip code, store name or purchase frequency; and track both online and in-store purchases to measure results and optimize offers.

New investors ITC Holdings and Kinetic Ventures led this round of financing and all previous investors participated including Canaan. As part of the deal, Campbell B. Lanier of ITC Holdings and Kinetic Ventures has joined the Cardlytics Board of Directors.

'We are seeing the Cardlytics platform and transaction marketing redefine the concept of direct marketing,' said Lanier. 'Retailers are able to increase loyalty and acquisition by accurately and efficiently presenting the most valuable offers to customers in a pay for performance model, and financial institutions provide valuable rewards to their account holders at no cost.'

Web site: www.cardlytics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.