Demand for best-in-class, reliable and agnostic touchless technology drove the closing of major partnership and brand-name supplier deals and year-end Series B raise
Boulder, CO (February 4, 2021) – Redeam, the leading and only agnostic global connectivity stack providing universal connectivity, digitized channel management, and voucher redemption/reconciliation services for and between operators and resellers within the Experiences sector, today released its 2020 retrospective of significant company gains and achievements. The company made substantial gains, despite the COVID-19 pandemic that has crippled the entire travel industry, made possible in large part due to the digitization buildouts and solutions already in motion over the preceding year. Among new 2020 offerings, the company rolled out its safer, touchless technology solutions for validating and admitting guests to attractions the world over, the demand for which by both Operators and Resellers has been fortuitously accelerated, and which has attracted the likes of enterprise-class attraction brands such as Disneyland Resorts, Caesar’s Entertainment, and ExperienceHub.
Among the achievements Redeam met in 2020 are:
- An 62% year-over-year increase in revenue and a 307% increase in revenue December 2020 versus December 2019
- A 65% increase in signed operator contracts, including 17 new enterprise-class customers
- A 200% increase in ticketing and reservation system partnership contracts signed
- A 500% increase in distribution partnerships
- A 96% year-over-year increase in Deal Flow Pipeline value
- Processed 144% more transactions in the final 3.5 months of 2020, than in the previous eight months, a direct result of new partnerships in its portfolio
- Rolled out three new product enhancements – Web Redemption, Validation API, and Rapid Reseller Connect – and introduced 216 new versioning upgrades to existing software, including four upgraded versions of its Operator Portal
- Negotiated a first-of-its-kind deal to license its technology to Tripster, an OTA platform
- Appointed a new Board Director and seasoned industry veteran, Jeff Grant
- Maintained its goal of employing a diverse workforce with 53% of the company falling into an under-represented category and 42% female members of executive team
- Celebrated three new industry awards or recognition, bringing the cumulative total to 12
- Enjoyed four media interviews featuring CEO Melanie Meador’s perspective on leadership, company culture, and innovation
- Executive produced and hosted three live events, including the immensely successful Tour Guide Throwdown in conjunction with 14 other industry partners, plus one live virtual ribbon cutting to inaugurate the relationship with Abu Dhabi-based ExperienceHub
- Published 42 posts including 12 unique thought leadership articles and three useful free infographics
- Witnessed sizeable growth in website, email, and social media stats, including a 45% increase in referral traffic to the website; a 79% increase in email-driven website traffic; and a 74% increase in social media-driven traffic. The volume of lead form submissions leapt to 439% increase year-over-year.
- Opened a Series B round of new investing, which is still ongoing in early 2021
Redeam’s leading VC partners, Thayer Ventures and Vertical Venture Partners issued a joint statement about the company’s continued resilience and success: “We have been extremely encouraged by the remarkable growth of Redeam’s contract value that has occurred during COVID. Our confidence is further reinforced by its successful business transformation and the way we’ve witnessed the entire Redeam team execute remarkably during this difficult period. We are very bullish on Redeam.”
Redeam’s 2021 Future View
In early Q1 of 2021, Redeam will be announcing several new product offerings, including revenue-driving white label solutions for Experiences and hotel operators to offer ancillary products; a local, in-market, bundle-building cross-selling platform allowing operators to sell other operators easily and effectively; Concierge and Off-Line Reseller platforms designed to expand and digitize more of the Things To Do space across the entire travel vertical; and more web based, touchless technical solutions which are in strong demand.
“Despite all the challenges travel faced in 2020, Redeam’s focus on execution and delivering best-in-class solutions has come to bear in our new, industry-leading and differentiated product offerings,” said Redeam CEO Melanie Meador. “Redeam’s operator customers have been looking to us to help expand their revenue and distribution opportunities, and we continue to deliver for them. Based on everything positive that Redeam has experienced this year and since pivoting towards new, more web-based product solutions in early 2019, I firmly believe that 2021 is going to be our breakout year.”
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Redeam (www.redeam.com) is a Boulder, CO-based SaaS solutions business that empowers the growth of tours, attractions, and activities so that more people can enjoy the world. Redeam is the only global technology company with an agnostic channel manager solution connecting Supply and Demand of the Experiences sector of travel. Redeam’s middleware solutions enable the seamless and automated passing of product and booking data back and forth between Operators and Distributors, thereby enabling the sale of more tickets, a better check-in process for guests, elimination of operational strain caused by too many manual processes or fraud, and improves payment reconciliation timelines. For its innovative solutions, Redeam has garnered over nine accolades and awards including PhocusWire’s Top 20 Start Up’s to Watch for 2019 and the 2018 Future Travel Experience Startup Competition Winner. The company works with hundreds of resellers and partners such as jetBlue Travel, Groupon, and Expedia, and serves thousands of attraction and activity operators globally like Walt Disney World, Caesar’s Entertainment Group, ExperienceHub, and the Intrepid Sea, Air & Space Museum. Redeam also hosts a free Experiences Industry Online Glossary.