JetSmarter raises undisclosed amount from institutional investors

Alud Davies
By Alud Davies August 11, 2017 13:34

JetSmarter raises undisclosed amount from institutional investors

JetSmarter, which describes itself as “the market leader in the premium flight-sharing economy”, has raised an undisclosed amount from institutional investors.

Although JetSmarter did not reveal the exact amount raised, it described the sum as “large”.

The lead sponsor was anchored by Clearlake Capital Group, and included Leucadia National Corporation and existing investors.

“We are excited to raise our first institutional capital as we enter our next chapter and pursue accelerated growth,” said Sergey Petrossov, founder and CEO of JetSmarter, in a statement.

The company says it will use the funds to invest further into the JetSmarter platform, as well as accelerating growth.

“We are enthusiastic about this partnership and firmly believe JetSmarter is a highly disruptive platform,” said Behdad Eghbali, managing partner and co-founder of Clearlake. “We see a tremendous market opportunity to be realized by using an asset-light, shared-economy business model to unlock a large, underutilized asset base and make private aviation available to a broader demographic of leisure and business travelers.”

Alud Davies
By Alud Davies August 11, 2017 13:34