LOS ANGELES, Sept. 23, 2024 /PRNewswire/ — SeatBoost, a startup that is transforming the air travel experience through dynamic seat upgrade solutions, is pleased to announce an investment from International Airlines Group (IAG). This funding marks an important milestone in SeatBoost’s mission to bring joy to travelers’ experiences while generating incremental non-dilutive revenue for partner airlines.
SeatBoost’s platform facilitates live auctions on mobile in the airport environment, offering passengers the chance to bid for premium seat inventory made available by the airlines. The platform not only provides passengers with a unique engaging experience, but it also generates incremental non-dilutive revenue on seat inventory that would otherwise spoil. Current partners include IAG portfolio brand Iberia, TAP Air Portugal, Condor, Avianca and LATAM. With support from IAG through its corporate venture capital arm, SeatBoost plans to expand its capabilities and further improve the travel experience for passengers around the world.
Kevin Stamler, CEO of SeatBoost, shared his thoughts on the investment: “We’re excited to partner with IAG at this important stage in our journey. This collaboration not only supports our vision but also helps us accelerate our growth and innovation. Our aim is to enhance data-driven insights to create personalized experiences for travelers while maximizing revenue for airlines. The investment from IAG validates our business model and underscores the potential of SeatBoost and the positive impact we can achieve together in the travel industry.”
Raza Ali, IAG’s Vice President – Innovation, commented, “Innovation is a core function at IAG, and through innovation we can deliver better customer experiences, more efficient operations, more sustainable aviation and a better-performing business overall. That’s why we think the creative approach of SeatBoost to unlock meaningful revenue from new sources of demand is aligned with our view.”
The partnership with IAG will enable SeatBoost to leverage technology and innovation, improving its current offerings and paving the way for additional solutions that prioritize customer needs and operational efficiency. As SeatBoost expands, it remains committed to setting high standards in the travel sector, ensuring passengers enjoy a seamless, personalized airport and flying experience.
About SeatBoost
SeatBoost is a travel technology startup dedicated to enhancing simultaneously the air travel experience and airline profitability through innovation. Our highly scalable and highly configurable platform is built to leverage the outcome-efficient revenue generating capability of auctions through interactive user engagement.
Instagram – Facebook – LinkedIn
About International Airlines Group (IAG)
International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets.
IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.
Media contact
Marianna D’Amore
media@seatboost.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/seatboost-secures-investment-from-international-airlines-group-302255040.html
SOURCE SeatBoost, Inc.
