Point.me, an innovative online search engine and concierge service, has raised $10 million in Series A funding to enhance its real-time flight rewards search engine. The funding round was led by Thayer Ventures and included participation from PAR Capital Ventures, RiverPark Ventures, Plug and Play Ventures, and MoreThanCapital. This latest capital infusion brings the total amount raised by Point.me to an impressive $12 million.
Key Takeaway
Point.me, the real-time flight rewards search engine, has secured
0 million in Series A funding to enhance its platform. The company’s mission is to simplify the process of redeeming travel rewards, and it has already surpassed 1.5 million users and 7.8 million searches since its launch in early 2022. With the new funding, Point.me plans to expand its partnerships with leading card issuers, scale its concierge service, and further develop its data-driven analytics capabilities.
Revolutionizing the rewards experience
Founded in 2019 by CEO Adam Morvitz and president Tiffany Fund, Point.me aims to simplify and streamline the process of redeeming travel rewards. With its robust platform, Point.me checks 33 loyalty programs across more than 150 airlines to uncover real-time award flight options. This eliminates the time-consuming and frustrating process that travelers often face when trying to redeem their points.
Since its launch in February 2022, Point.me has garnered over 1.5 million users and facilitated 7.8 million searches. This rapid growth is a testament to the platform’s effectiveness in addressing the pain points of loyalty program members.
Making travel rewards easily accessible
Point.me offers a range of services to its users. The platform’s self-serve search tool allows individuals to filter search results by loyalty program, airline, or route to find the best available flight deals. Moreover, users can tailor their search results based on their preferences and points balances.
In addition, Point.me provides a full-service concierge service that offers personalized points consult calls, concierge services with a 10% discount, and five starter passes to gift to friends and family. The concierge service, priced at $200 per person, takes care of all the booking details, ensuring a seamless travel experience.
Expanding partnerships and scaling the business
The recently raised funds will enable Point.me to forge enterprise partnerships with leading U.S. card issuers, expand its concierge service, and scale its consumer subscription business. The company plans to deepen integrations with existing partners such as American Express, Bilt, Capital One, Chase, and Citi, while also establishing new relationships.
Point.me also envisions going beyond search and becoming the go-to loyalty management site for travelers. Through data-driven analytics and AI-based algorithms, the platform aims to improve the redemption experience for both customers and enterprise partners. By leveraging comprehensive data on award redemption patterns and user behavior, Point.me can enable its business partners to target potential customers and enhance the overall travel experience for their clientele.
