JetSmarter Inc., the technology-enabled marketplace for private aviation, has announced that it has raised its first institutional capital, the company said.
The investment will be anchored by lead sponsor, Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), and include participation from Leucadia National Corporation (together with its affiliates, “Leucadia”) and existing investors.
Financial terms were not disclosed.
Founded in 2012, US-based JetSmarter is an innovative technology company and the market provider of the premium flight-sharing economy. The company is known for creating a new class of flying called social aviation, which pairs the practice of purchasing low cost empty legs and underutilized capacity with the sharing economy.
Its asset-lite approach allows JetSmarter to substantially reduce costs, making private aviation available to more consumers and businesses. JetSmarter is the world´s largest marketplace for private aviation, with over 670,000 registered app users, 10,000 members, and connectivity to 3,200 aircraft, and has transported over 40,000 unique passengers since inception.
The investment will enable JetSmarter to accelerate growth by continuing to launch new products and routes globally and by increasing supply on existing routes.
Jefferies LLC acted as the exclusive placement agent to JetSmarter in connection with the financing.
JetSmarter is a private aviation community that does not own or operate any aircraft. All flights are performed by FAA-licensed and DOT-registered air carriers.
Clearlake Capital Group, L.P. is a private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake´s operational improvement approach, O.P.S.Â®