The transaction marketing company Cardlytics said Monday it has raised new funding.
Cardlytics sells a system that lets companies make offers based on their customers' past spending. The Atlanta company said it has received $18 million in a round of funding led by new investors ITC Holding Co. LLC and Kinetic Ventures. Campbell B. Lanier, the chairman of ITC and senior director at Kinetic, has joined Cardlytics' board.
Cardlytics said the financing will help it meet rising demand for its software, through which, it said, marketing offers would be made to 10 million people this fall.
"Retailers are able to increase loyalty and acquisition by accurately and efficiently presenting the most valuable offers," using the software, Lanier said in a release.