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To make marketing more relevant and measurable.
Data analytics and powerful computing networks are changing the way businesses behave, and uncovering new business models in the process. Cardlytics has carved out a lucrative niche pairing marketers with banks and credit card holders.
Cardlytics allows marketers to tap into all the data stored in credit card/banking data. It was set up when the founders realized that banks were sitting on a wealth of useful data.
The company's product helps customers get more relevant rewards, marketers receive more qualified leads and banks get more loyal customers. Cardlytics earns a fee for maintaining the platform.
The main challenge for Cardlytics in this data-sensitive era will be making sure that it addresses any privacy concerns. It uses anonymized data, which helps, but it needs to be especially careful as slip-ups could be very damaging to its credibility.
Kirsty
Company Specialist at Welcome to the Jungle
May 2017
$11.9m
LATE VC
Oct 2014
$70m
LATE VC
Lynne Laube
(Advisor)Previously served as the company's COO and took over as CEO in 2020 before transitioning into their current role in September 2022. Former COO and VP at Capital One.