November 30, 1999 in News from Our Companies

Banking Analytics Company Cardlytics Raises $5 million

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Cardlytics Inc., an ATDC member company, just closed on a $5 million round lead by Canaan and Polaris Ventures.  Cardlytics software allows retailers to target advertising to specific consumers, via banking websites. Retailer ads are based on transaction information collected through the consumer’s bank card usage behavior. The transaction information is cleaned of personal data, so retailers can’t identify individual consumers.

“It’s a new way for customers to save money through the online banking relationship,” Cardlytics co-founder and Chief Operating Officer Lynne Laube said.

The company has raised about $8.4 million so far, and plans to add about 50 jobs early next year — more than doubling its current workforce.

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