NEW YORK--(BUSINESS WIRE)--POINT.ME, the real-time metasearch engine for finding and booking real-time flight options using loyalty program reward points on 150+ airlines, today announced the completion of a $10M Series A fundraise. The round was led by Thayer Ventures with significant support from PAR Capital Ventures, RiverPark Ventures, Plug and Play Ventures, and MoreThanCapital. Prior investors, including Gaingels, and David Baggett and Carl de Marcken – Co-Founders of ITA Software (now known as Google Flights), returned for the new funding round.
The Series A investment will fuel POINT.ME’s enterprise partnerships with leading U.S. card issuers, expand upon its high-touch premium concierge service, and significantly scale its consumer subscription business. The POINT.ME platform currently operates in tandem with loyalty rewards from today’s top credit card providers such as American Express, Bilt, Capital One, Chase, Citi, and more. The new investment will facilitate deeper integrations with current partners, offering seamless searches and bookings for card holders, as well as forge new partnerships with additional providers, ushering platform ubiquity.
“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,” said Adam Morvitz, Founder and CEO of POINT.ME. “With our first-of-its kind metasearch platform and this new financing, POINT.ME is furthering our mission to provide a seamless, easy-to-use travel booking solution, allowing consumers to unlock the whopping $30 billion worth of loyalty points that go unredeemed in just this year alone.”
A testament to the company's meteoric growth, point.me surpassed 1.5mm registered users in its first year and has grown its annual recurring revenue by 1860%. Point.me's most recent round of funding will fuel its ability to work more synergistically with credit card providers and subsequently offer a heightened integration with loyalty rewards programs for all of the Company's product offerings.
“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," says Chris Hemmeter, Managing Director at Thayer Ventures. "The company's mission to make smarter travel more accessible and approachable excites our team, and we are thrilled to be supporting the brand in building upon their success as they expand their reach and scale their B2B and B2C verticals."
The company notably raised $2M in seed funding last year, in a round led by PAR Capital Ventures. WndrCo Holdings invested in the seed round as well, with participation from former DreamWorks Animation CEO Jeffrey Katzenberg and Dropbox Business Founder Sujay Jaswa. Other key investors included a syndicate of executives from Meta and DoorDash, with nearly all of the seed investors returning for the Series A raise.
For more information and updates, please visit POINT.ME.
POINT.ME is a first of its kind award travel discovery tool and points concierge service that enables loyalty program members to find better flights for fewer points. point.me’s proprietary algorithm searches over 150 airlines to uncover the very best flight deals, including first and business class travel, along with guided instructions for booking them. POINT.ME works with over 30 loyalty programs, including major credit card rewards, and enables customers to filter search results based on their preferred programs, airlines, routes and balances. Loyalty industry experts Adam Morvitz and Tiffany Funk led a dedicated team of specialists with decades of combined expertise in the miles and points space to launch POINT.ME, the only tool of its kind in the travel market, in February 2022.