Business aviation startup Port Said Raised $ 17 million to grow cloud-based software solutions.
Tiger Global Management led the round with the participation of existing investors such as I2BF Global Ventures and SOMA Capital.
Founded in 2018, Portside helps aviation management companies, aircraft owners, corporate flight departments, and fractional operators streamline digital data manipulation.
Its cloud-enabled platform connects critical flight operations, crew and staff scheduling, cost management, maintenance, financial and budget data, simplifying workflows for business airlines and flight departments, and making informed decisions in real time. Let’s do it with.
With the new capital, the San Francisco-based company “accelerates investment in product innovation, supports greater engagement with large enterprise customers, and grows global engineering and customer success teams,” co-founded Portside. And CEO Alex Bernitzky said.
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“We appreciate the strong support we received from both existing and new investors in this round. They are our strategy and intentional approach to cloud-based digital transformation in the global business aviation industry. I have shown my confidence in this approach. “
According to the company, despite the impact of the coronavirus pandemic, revenues increased by nearly 300% in 2020, adding more than 50 aircraft operators to the customer base in multiple countries.
“Portside has made rapid progress since its inception and is entering the next step in realizing its vision of becoming an undisputed leader in cloud-based solutions for business aviation,” said Tiger Global Management Partner. John Curtius says.
“In our view, Portside represents the future of the industry and we are pleased to partner with companies that we believe will continue to generate significant value over the years to come.”
https://www.phocuswire.com/portside-raises-17-million-to-grow-cloud-based-business-aviation-tech Portside Raises $ 17 Million to Grow Cloud-Based Business Aviation Technology