Point.me, the metasearch engine facilitating real-time flight bookings through loyalty program reward points across over 150 airlines, has successfully closed a $10M Series A fundraising round. Spearheaded by Thayer Ventures, the round also witnessed substantial contributions from notable firms such as PAR Capital Ventures, RiverPark Ventures, Plug and Play Ventures, and MoreThanCapital.
The fundraising saw a comeback of previous investors, including the co-founders of the now Google Flights, ITA Software, David Baggett and Carl de Marcken, along with Gaingels.
Expanding Horizons with New Investments
The fresh influx of capital is set to catalyze point.me’s collaboration with prominent U.S. card issuers, enhancing its premium concierge service and amplifying its consumer subscription business manifold. Operating synergistically with loyalty rewards from leading credit card companies like American Express, Bilt, and others, POINT.ME aims to deepen its integration, facilitating effortless searches and travel bookings for cardholders. Furthermore, it is poised to forge alliances with additional providers, promising a universal platform experience.
Adam Morvitz, the visionary Founder and CEO of point.me, expressed his enthusiasm saying, “I am excited to announce point.me’s Series A fundraise, which will heighten our partnerships with leading credit card issuers, deepen our white glove premium concierge offering, and ultimately expand our subscriptions business to new customers everywhere.” He emphasized the platform’s unique position in helping consumers tap into the staggering $30 billion in unused loyalty points accumulated this year.
A Journey of Remarkable Growth
Undoubtedly, point.me has been on a remarkable trajectory, boasting over 1.5 million registered users within its inaugural year and witnessing a staggering 1860% growth in annual recurring revenue. This recent financial backing will further enhance its collaboration with credit card providers, fostering a more integrated approach to loyalty rewards programs across all its product offerings.
Chris Hemmeter, Managing Director at Thayer Ventures, praised the company’s efforts, stating, “Point.me delivers an unmatched travel discovery and search experience that has proven itself to be an incredibly valuable asset to jetsetters of all kinds.” He expressed his excitement over the company’s mission to democratize intelligent travel and looked forward to supporting its growth in both B2B and B2C sectors.
Building on a Strong Foundation
Last year, the company had successfully raised $2M in a seed funding round, with PAR Capital Ventures at the helm. The round also saw investments from WndrCo Holdings and notable figures such as Jeffrey Katzenberg, the former CEO of DreamWorks Animation, and Sujay Jaswa, the founder of Dropbox Business. Impressively, a majority of the seed investors have reaffirmed their faith in the company by participating in the Series A round.
Point.me, a revolutionary metasearch engine in the travel industry, has secured a substantial $10M in Series A funding, led by Thayer Ventures. This investment is geared towards fostering partnerships with top U.S. card issuers, enhancing its premium concierge service, and expanding its consumer subscription business. The CEO, Adam Morvitz, is thrilled to further the company’s mission of facilitating easy access to unused loyalty points, which currently amount to a whopping $30 billion. With a remarkable growth trajectory and support from industry stalwarts, Ppoint.me is set to redefine the travel booking experience.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.