Redeam, a Boulder, Colorado-based tech company that automates the way tours and attractions process tickets sold by third-party distributors, secured $7.7m in Series A funding.
The round was led by Vertical Venture Partners with participation from Thayer Ventures, JetBlue Technology Ventures, Tallwave Capital and Peninsula Ventures as well as Barney Harford, John Love, Russ Sach, Thomas See, and Rob Torres. In conjunction with the funding, Brad Corona, Partner at Vertical Venture Partners, and Chris Hemmeter, managing director at Thayer Ventures, will join Redeam’s board of directors.
The company intends to use the funds to grow its team, its product offerings and its sales and business-development efforts.
Led by Kevin McLaughlin, CEO and co-founder, Redeam provides tours and activities businesses with technology to process a scannable mobile ticket. The company’s integrated, mobile- or tablet-based solution scans and validates any voucher from any reseller and instantly issues a ticket.
Redeam, which makes money by collecting a fee from the supplier on each voucher processed, serves more than 200 customers, including CitySightseeing/Gray Line New York, Ripley’s Believe It or Not, National Geographic Encounter: Ocean Odyssey and the Metropolitan Museum of Art.