ATLANTA, GA, Advertising & technology company, and leader in Card-Linked Marketing, announced today the closing of the company's latest round of financing, totaling $70 million.
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Cardlytics, the advertising & technology company, and leader in Card-Linked Marketing, announced today the closing of the company's latest round of financing, totaling $70 million. Led by Discovery Capital, this funding brings Cardlytics' total venture funding to just over $170 million. Cardlytics intends to use the funds to continue to extend and expand the breadth of the company's capabilities to make all marketing more relevant and measurable. Morgan Stanley acted as adviser on the deal.
With this investment, Discovery Capital will appoint a representative to the Cardlytics board of directors. In addition, the company announced that Tony Weisman, CEO of DigitasLBi, North America has joined its Board of Directors. Weisman, a 25-year advertising veteran who leads an agency known for its digital media, creative and technology acumen, brings a wealth of experience to fast-growing Cardlytics.
'These board additions come at an important time for Cardlytics,' said Scott Grimes, CEO of Cardlytics. 'As we expand the power of Card-Linked Marketing beyond our private banking channel, we're excited to bring on the deep expertise in technology and media that these board members represent.'
'Cardlytics really has the potential to make all types of marketing more effective,' continued Grimes. 'Our data platform can help solve some of marketing's biggest problems: accurately measuring advertising effectiveness, and reaching the right audience, at the right time, with the right message.'
Cardlytics is the advertising & technology company that pioneered Card-Linked Marketing. Cardlytics targets ads to millions of individual consumers based on their recent purchase behavior. Through partnerships with nearly 400 banks, including Bank of America, PNC Bank, Lloyds Banking Group, the company has insight into consumer spending across all stores and categories for 70% of US households. This insight reveals a whole-wallet perspective that tells advertisers where their customers shop outside of their stores. Thousands of advertisers use Cardlytics' patented technology to reach consumers with relevant messages without personally identifiable information ever leaving the bank. Cardlytics is headquartered in Atlanta, with offices in London, New York and San Francisco. The company is funded by leading investors in Boston, New York and Silicon Valley, as well as a strategic investment from the world's leading loyalty company, Aimia.