Redeam, the independent global connectivity stack with digitized channel management and touchless voucher redemption/reconciliation solutions for the Things To Do sector of travel, today announced it had completed a $12M Series B funding raise.
The raise, led by Vertical Venture Partners and Thayer Ventures, with participation from existing investors Peninsula Ventures and Cobre Capital as well as the addition of new investor Boulder Ventures, boosts Redeam’s trajectory despite the challenges its industry has faced during the pandemic.
Global demand by dominant brands for Redeam’s platform solutions has skyrocketed since the onset of COVID-19.
The raise will allow Redeam to more quickly scale its operations, technology footprint, and ecosystem-supporting solutions in order to meet the sector’s increased demand for its reliable, sophisticated connectivity.
“Redeam’s significant growth, product evolution, and company transformation is a testament to its strong leadership and the exceptional team that has continually anticipated and exceeded the demands of its market,” said Redeam’s leading VC partners, Jeff Jackson of Thayer Ventures and Brad Corona of Vertical Venture Partners in a joint statement.
“The Redeam of 2021 is a completely different company than even two years ago,” added Redeam CEO Melanie Meador.
“Our products have evolved towards complete digitized and touchless solutions for the industry, white-label solutions for hotels, airlines, and other travel products, and our workforce has not only proven its expertise in the space but also now exceeds diversity standards.”
“Our focus on building a best-in-class platform for our industry has remained unwaivering, and we’re extremely grateful to our investors for allowing us to capitalize on the significant demand in front of us.”
Redeam (www.redeam.com) is a Broomfield, CO-based SaaS solutions business that empowers the growth of tours, attractions, and activities so that more people can enjoy the world. Redeam is the only global technology company with an agnostic channel manager solution connecting Supply and Demand of the Experiences sector of travel.
Redeam’s middleware solutions enable the touchless, seamless, and automated passing of product and booking data back and forth between Operators and Distributors, thereby enabling the sale of more tickets, a better check-in process for guests, elimination of operational strain caused by too many manual processes or fraud, and improves payment reconciliation timelines.
For its innovative solutions, Redeam has garnered over nine accolades and awards including PhocusWire’s Top 20 Start Up’s to Watch for 2019 and the 2018 Future Travel Experience Startup Competition Winner.
The company works with hundreds of resellers and partners such as jetBlue Travel, Klook, Groupon, and Expedia, and serves thousands of attraction and activity operators globally like Walt Disney World, Caesar’s Entertainment Group, ExperienceHub, and other iconic things to do. Redeam also hosts a free Experiences Industry Online Glossary.
“After watching Redeam from the sidelines for over two years and seeing how much traction it’s now getting, Boulder Ventures could no longer ignore this powerhouse in our backyard.”
Peter Roshko, General Partner, Boulder Ventures