Chicago travel loyalty rewards startup Rocketmiles has raised $6.5 million in new venture funding that will expand its offerings to international markets.
The company, which launched its mileage-rewards program in April, has raised a total of $8.5 million from investors ranging from locally based Chicago Ventures, TechStars Chicago Managing Director Troy Henikoff and Match.com CEO Sam Yagan, to Menlo Park, Calif.-based August Capital and Cambridge, Mass.-based Atlas Venture.
Rocketmiles will hire a general manager for its international business, plus another 10 full-time employees this year, bringing its total staffing to 30, says co-founder and CEO Jay Hoffmann.
The company rewards an average of 8,000 frequent-flier miles after a typical customer books three to four trips, but the rewards can reach 40,000 for a single weeklong stay at a nice hotel in Puerto Rico, Hoffmann says.
Rocketmiles has 10 airline partners, with an 11th — Air Canada’s Aeroplan — to be announced next week, and counts more than 100,000 people signed up to participate, Hoffmann says.
With the new funding, Rocketmiles added to its board Tripit co-founder Scott Hintz and August Capital partner Tripp Jones.
