UsingMiles.com Raises $2.7 Million, Names Jon Nordmark CEO
Tuesday, April 5, 2011
Posted by: Su Hawk
Loyalty Travel Startup Raises $2.7 Million,
Names eBags Founder As New CEO
(CSIA Note: Congratulations to the continued successes for both Jon Nordmark, the CEO of UsingMiles.com and CSIA Board member, and to their company. Jon has been the Chair of CSIA DEMOgalas for the last few years, and representatives from their company have spoken at past conferences, including as a showcase technology company chosen a few years ago, so we're honored that Jon and other repres they have been so involved in the Colorado technology community.)
April 5, 2011 - GREENWOOD VILLAGE, CO - UsingMiles.com, the world's first search engine and management tool for customer loyalty programs such as United Mileage Plus® and Hilton HHonorsTM, recently closed a $2.7 million Series A round of funding. Upon closing, eBags.com founder and 10-year CEO, Jon Nordmark, became CEO of UsingMiles.com.
UsingMiles1, a free service for frequent flyers, is currently managing more than 3 billion miles and points for members.
A graduate of the TechStars incubator program in Boulder, Colorado, UsingMiles' founder Krista Paul says, "The Series A was led by iSherpa Capital. The round included strategic investors such as Navin Dimond, CEO of Stonebridge Companies, which owns and operates over 40 hotels, including Marriott, Hilton and Hyatt."
"iSherpa is honored to work with a passionate founder like Krista," says Vipanj Patel, managing partner of iSherpa Capital and Executive Chairman of UsingMiles.com. "Krista's energy inspires the team," said Patel. "Krista brought us a blue ocean opportunity to build a very large - yet capital efficient – business."
Nordmark invested in UsingMiles in 2009. Prior to that, as 10-year CEO of eBags, which he founded, eBags became known as a dot-bomb survivor. eBags grew at a 34% CAGR between 2000 and mid-2008, profitably, while collecting 1.4 million customer-written product reviews.
Nordmark says, "Building meaningful relationships between UsingMiles.com and suppliers inside the travel and financial industries is important to everyone on our team. Those partnerships will be executed with the same care that we used at eBags, while nurturing 500-plus relationships with luggage and handbag suppliers." UsingMiles.com just removed its invite-only status and the site is free to use.
Travelers can register and create a personal dashboard to manage their loyalty programs and search for airline flights and hotel rooms in The World's First Search Engine for Award Travel.TM
UsingMiles.com is hiring PHP and Java web developers in the Denver area.
To keep up with UsingMiles.com news, "like" the company on Facebook and "follow" them on Twitter and LinkedIn.
Test drive the UsingMiles.com Loyalty Dashboard and Award Travel Search Engine at http://www.usingmiles.com.