Paceline
Fitness and financial rewards platform
- 21-100 employees
- B2C
- Personal finance
- Fitness
- Financial Services
- Wellbeing
- North Beach, San Francisco, CA
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Company mission
To bring the worlds of physical and financial rewards together by rewarding users for doing the types of physical activities they love most.
Our take
Paceline is sitting at an interesting intersection between the worlds of health tech and financial services. The platform rewards users who reach specified levels of elevated heart rate activity each week, as tracked by wearables like Fitbits and Apple Watches. The fitness tech sector has been growing in recent years, thanks in large part to the development of wearables, and so Paceline certainly has the opportunity to take advantage of this growth.
The company provide a credit card scheme which offers rewards in the form of cashback on health and wellness purchases. This approach has previously helped other companies nudge consumer eating, shopping, and travel habits, as well as cultivate strong brand loyalty. This creates a compelling proposition for Paceline and their brand partners alike.
Some customers, however, may baulk at the shopping habit data passed on by Paceline to partner brands in exchange for rewards. This could prove tricky terrain to navigate as data privacy laws develop.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Unlimited Time Off
- Personal & Family Health Coverage
- Hybrid Office Option
- 401(k) & Health Saving Account
- Wellness Perks
- Generous Commuter Benefits
- Professional Development
Funding (2 rounds)
Jun 2021
$29.5m
SERIES A
Nov 2020
$5m
SEED
Total funding: $34.5m
This company has top investors
Leadership
Joel Lieginger
(CEO)Studied at Boston College before working as a Financial Manager at Lincoln Financial Group. Also held several senior positions during 8 years at AIA.