Cardlytics, which provides solutions for transaction marketing within banking, this morning announced that it has raised $18 million in financing. New investors ITC Holdings and Kinetic Ventures led the round.
According to the press release, all of Cardlytics’ previous investors participated, including Canaan Partners, Polaris Venture Partners and Total Technology Ventures.
It’s unclear how much capital the company has raised to date.
National and regional retailers and service providers use Cardlytics’ transactional marketing platform to connect with consumers via online banking channels. This allows advertisers to use certain consumer transaction data such as purchasing history to accurately target people with offers that are highly relevant to them.
Its multi-channel approach includes online banking, SMS, email, mobile and social networks.
According to Cardlytics, financial institutions will be providing retail offers as rewards to over 10 million consumers based on their individual purchase behavior by next fall.
