Private jet marketplace JetSmarter has raised $105 million in its Series C equity financing round at a $1.5 Billion pre-money valuation, from existing and new strategic investors.
Existing investors that continue to support the company with follow-on investments in the Series C round include members of the Saudi Royal Family and musician Shawn ‘Jay-Z’ Carter.
New key investors in this round include an Abu Dhabi based growth equity fund, strategic partner JetEdge, a London based venture capital firm, and a Qatar based private equity fund, among other strategic private investors.
Along with the financing round, JetSmarter has appointed Bradley Stewart, XOJET president and senior advisor to private equity firm TPG, to its board of directors.
This announcement comes off the heels of JetSmarter’s recent partnership with XOJET, to further expand its private jet offerings for members across North America.
“JetSmarter continues to revolutionize the private jet space, and this financing will enable us to continue domestic and international growth and expand our member community.
“It will allow us to gain access to more inventory and carrier partners around the world, in addition to launching new JetShuttle routes in key cities that are crucial for our members.
“We remain dedicated to making travel fun again,” said Sergey Petrossov, founder, JetSmarter.
Over the last 12 months, JetSmarter has significantly expanded its private jet services, with a main focus on increasing its shared, scheduled JetShuttle fights across the United States, Europe and the Middle East, in cities including New York, Chicago, Fort Lauderdale, Las Vegas, Atlanta, London, Paris, Moscow, Dubai, Milan, and more.
This new financing will help JetSmarter grow its JetShuttle network significantly into new cities around the world, including plans to expand into Asia & Latin America.