Paceline, a San Francisco, CA-based retail health and wellness platform, raised $5m in seed funding.
The round was co-led by Montage Ventures and Propel Venture Partners, with participation from Northwestern Mutual Future Ventures, Courtside Ventures, GreatPoint Ventures, Lux Capital, Clocktower Technology Ventures, NextView Ventures, and angel investor Mark McCombe, Senior Managing Director at BlackRock, in his personal capacity.
Led by Joel Lieginger, CEO and founder, Paceline is a retail wellness platform that rewards and incentivizes physical activity with material financial benefit from consumer health and wellness brands and retail financial services – from credit cards and banking to life and health insurance. The platform tracks physical activity through wearables and leverages customer spending data, accessed through a linked credit card, to curate health and wellness rewards. The company is using this data to build financial products from the inside out, starting with the first health and wellness credit card and dynamically priced life insurance products to change the nature of preventive health in society.
Since the launch of its beta program in January 2020, Paceline customers have earned and redeemed more than 100,000 rewards to more than 50 brand partners representing more than $500k in rewards value and they are just getting started.