Local Tech Wire

ATLANTA – Venture capital backed has closed on $18 million in new venture funding.

ITC Holdings and Kinetic Ventures led the round as new investors.

Previous investors also participating were Canaan Partners, Polaris Venture partners and Total Technology Ventures.

As part of the deal, Campbell Lanier of ITC Holdings and Kinetic Ventures joined the Cardlytics board.

Cardlytics provides banking rewards solutions.

The firm had earlier raised $8 million in funding and $4 million in debt, according to PE Hub.

“Our exceptionally strong direct marketing performance coupled with the rapid expansion of our Financial Institution footprint positioned the company to attract significant capital from strategic new investors,” said Scott Grimes, Cardlytics’ chief executive officer, in a statement. “Mr. Lanier, with his deep experience in growing and governing high growth businesses, is an exciting addition to the board.”

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