SeatBoost, a company providing dynamic seat upgrade solutions, has received an undisclosed investment from British Airways-parent International Airlines Group (IAG).
California-based SeatBoost enables live auctions on mobile devices at the airport, enabling passengers to bid to upgrade their seat and, providing airlines with incremental revenue.
IAG's corporate venture arm, Hangar 51, says on its website that it "seeks out early-stage startups between Seed and Series B with the potential to transform the industry."
SeatBoost, which already counts carriers such as Iberia, TAP Air Portugal and Avianca as customers, said it plans to use the funds to expand its capabilities.
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"This collaboration not only supports our vision but also helps us accelerate our growth and innovation," said Kevin Stamler, CEO of SeatBoost.
"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."
And said Raza Ali, IAG's vice president of innovation, ”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."