Rocketmiles raises $2 million to turn hotel stays into airline miles
Frequent travelers have plenty of incentive to earn miles through Rocketmiles, but the startup will have to expand its hotel options and offer a cleaner experience than its competitor for sustainable growth.
Rocketmiles, a Chicago-based startup that offers travelers airline miles for hotel bookings, announced it raised $2 million in its first round of external funding today.
TripIt co-founder Scott Hintz and Jetsetter co-founder Drew Patterson are among the startup’s advisors, but Rocketmiles CEO Jay Hoffmann is no stranger to miles business. He managed partnerships for three years at United Mileage Plus.
His startup’s business model is one that supposedly benefits all involved. Travelers earn miles for their hotel stays, airlines earn revenue for selling miles, and hotels fill rooms with frequent business travelers.
“Rocketmiles will use the funding to invest in marketing and customer acquisition as well as to expand its airline and hotel partnerships,” a spokesperson says.
Rocketmiles publicly launched earlier this month after a two-month private beta.
Rocketmiles’ closest competitor PointsHound raised a $425,000 seed round in March.