Cardlytics, a US-based marketing analytics company backed by energy utility ITC Holdings, confidentially filed for an initial public offering in 2016, TechCrunch reported today, citing unnamed sources.
The company has been trying to identify the best moment to go public and is reportedly working on partnership agreements that would give it a better market position. The IPO is expected to occur sometime next year, though the company refused the comment on the report.
Cardlytics has partnered more than 1,500 financial services firms to offer online and mobile banking rewards to customers based on their recent purchases. The anonymised data is also sold to marketing firms to facilitate better marketing campaigns and measure their impact.
The company was previously reported to be seeking an initial public offering by early 2016, back in 2014 when it closed a $70m series F round led by hedge fund Discovery Partners.
Cardlytics has raised approximately $182m in total, most recently securing nearly $12m in combined equity and debt financing in May 2017, according to a securities filing.
ITC backed the company’s $18m series B round in 2010 alongside Canaan Partners, Polaris Venture Partners, TTV Capital and Kinetic Ventures.