Venture Capital Update

Cardlytics Inc., an Atlanta-based provider of banking rewards solutions has raised $18 million in a series C Funding. ITC Holdings and Kinetic Ventures lead the round of new funding and were joined by return backers Canaan Partners, Polaris Venture Partners and Total Technology Ventures.

Campbell B. Lanier of ITC Holdings and Kinetic Ventures has joined the Cardlytics Board of Directors.

SaveWave, a Belmont, Massachusetts-based provider of digital promotion, distribution and rewards solutions raised $2.3 million in Series A funding. Flybridge Capital Partners and First Round Capital both lead the rounds and were followed by top VC firms Founder Collective, IA Capital and some angel investors like Ron Conway.

SaveWave waves out from Sallie Mae's Upromise and will continue to manage Upromise’s grocery operations.

PlaySpan Inc., a Santa Clara, Calif.-based provider of game-based eCommerce has raised $18 million in Series C funding.

Vodafone Ventures and Softbank Bodhi Fund co-led the round and were joined by return backers Menlo Ventures, STIC Investments and Novel TMT Ventures.

TransFS, a Chicago-based comparison shopping site for credit card processors, has raised $510,000 in seed funding from fellow Chicago-based Hyde Park Angels and 500Startups of Mountain View, California.

The startup aims to help merchants save money on credit card fees and also conducts reverse auctions to solicit competing bids from credit card processing companies.

eXelate, a New York-based first and largest open marketplace for audience targeting data raised $15 million in Series B funding. Menlo Ventures led the round, and was joined by existing backer Carmel Ventures.

“We’re thrilled to have the renewed support of Carmel Ventures and are excited about our new partnership with Menlo Ventures, which now provides us with deep strategic and financial roots in both Silicon Valley and the ‘far east coast’,” said eXelate CEO Meir Zohar.

C2Call, a provider of free Internet phone services (VoIP) from Germany has raised $2 million in Series A funding. Backers include Draper Investment Co., High-Tech Grunderfonds and Klaus Wecken, former founder of KHK Software.

C2Call will use the funds for expansion into international markets for its FriendCaller service, the first and only free browser-based Internet phone solution that can turn emails, social networks and any Internet-ready device, such as the iPod Touch or iPad, into a phone.

Tudou.com, a top Chinese online web video sharing platform raised $50 million in Series E funding. Temasek Holdings, a Singapore-based VC firm led the round with a $35 million investment, and was joined by return backers IDG Technology Venture Investment, Granite Global Ventures, General Catalyst Partners, Capital today, Jafco Asia, KTB Ventures and JAIC.

Tudou's aim is expanding its main advertising supported web platform and developing mobile device video technology as key future growth drivers.

YouSendIt Inc., a California-based and number-one secure digital file delivery solutions has raised $15 million in Series D funding. Adams Street Partners led the round, and was joined by return backers Emergence Capital, Sigma Partners and Alloy Ventures.

The funding will be used to accelerate growth and increase market share.

Zulily, a children oriented ecommerce and shoppping site raised $6 million in Series B funding. August Capital led the round and was joined by return backer Maveron LLC.

Zulily will use the funds to further advance its position as the leading children’s private-sale shopping site.

WeShop, a New York-based provider of online shopping platform start up where consumers control their data raised $4.25 million in Series A funding. VC angels include Jonathan Miller, Frank Kenny, Martin White and Carlos Sala.

Antony Lee, Founder and CEO of WeShop, describes WeShop as the world’s first consumer network where consumers utilize their own anonymized shopping data to lead retailers and brands to make them great offers through the WeShop platform. This results in drastically lower prices, and a radically improved shopping experience.