Stealth Milewise Raises $1.5 Million To Help People Cash In On Reward Programs

Milewise is an up-and-coming New York startup that’s currently in stealth mode (its service has been invite-only since at least the first time I caught wind of the company, which must have been in the summer of 2010). According to this SEC filing, they’ve just raised $1.5 million in debt funding.

We don’t know much about the company, except that it was co-founded by Vinay Pulim, who previously started Isovia (acquired by Motorola) and (acquired by and was most recently senior software engineer at Hunch. The other co-founder is Sanjay Kothari, who was previously at Boston Consulting Group.

The Business Insider recently profiled the startup as one of the “25 Hush-Hush New York Startups You Need To Know About” and wrote:

If you think you understand your frequent flyer miles, you probably aren’t paying very close attention. While airlines throw around rules of thumb — as mile is worth a cent or two, say — the actual value of those rewards varies wildly based on how you cash them in. MileWise — still in private beta — helps consumers find the most appealing and lucrative ways to cash in on frequent flyer miles and, eventually, other types of reward programs.

We’ve contacted the startup to learn more about what they’re building, and when they plan to launch in public beta.