Atlanta-based ad-targeting firm gets $70 million

Cardlytics, an Atlanta company that targets ads based on consumers’ recent buying behaviors, said it has closed on a $70 million round of financing. That puts the company’s total funding from venture firms at $170 million. The latest round was led by Discovery Capital, which will get an appointment to the Cardlytics board. In addition, Tony Weisman, the chief executive of DigitasLBi, North America, also joined the board.

Cardlytics partners with banks to use purchase information to aim ads, letting advertisers know where customers shop. The company says personally identifiable information never leaves the banks.