SeatBoost, which provides dynamic seat upgrade solutions, received an investment from the parent company of British Airways, International Airlines Group (IAG).
SeatBoost, an auction app developed in California, allows for live mobile bidding at airports. Passengers can bid to upgrade their seats and airlines earn additional revenue. IAG’s corporate VC arm, Hangar 51, states on its website that they “seek out early-stage startups with the potential to change the industry between Seed and Series B.”
SeatBoost plans to use the money to expand its capabilities. It already counts carriers like Iberia and TAP Air Portugal as customers.
SeatBoost CEO Kevin Stamler said:
“This collaboration will not only support our vision but also help us accelerate our growth and innovate.”
“Our aim is enhancing data-driven insight to create personalized travel experiences for travelers, while maximizing revenues for airlines.” The investment from IAG validates SeatBoost’s business model and underlines the positive impact that we can achieve in the travel sector together.
Raza Ali, IAG’s vice president for innovation, said, “Innovation, a core function of IAG, is key to delivering better customer experiences, efficient operations, sustainable aviation, and a more profitable business in general.” SeatBoost’s creative strategy to unlock revenue from new sources is in line our views.
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