JetSmarter Raises Institutional Investment from Clearlake Capital Group

JetSmarter Raises Institutional Investment from Clearlake Capital GroupJetSmarter, the leading technology-enabled flight-sharing marketplace, has raised its first institutional capital, anchored by lead sponsor, Clearlake Capital Group. The partnership also include participation from Leucadia National Corporation and existing investors. Financial terms were not disclosed.

The U.S.-based market leader in the premium flight-sharing economy has introduced 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 to03 substantially reduce costs, making private aviation available to more consumers and businesses. The world’s largest marketplace for private aviation boasts 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 from Clearlake Capital Group will enable the company to accelerate growth by continuing to launch new products and routes globally and by increasing supply on existing routes.

We are excited to raise our first institutional capital as we enter our next chapter and pursue accelerated growth. Through our membership model, we have broadened the addressable market and created the premier social aviation experience. This partnership will allow us to invest further in our platform, which is revolutionizing private aviation through the sharing economy. – Sergey Petrossov, JetSmarter founder and CEO

Jefferies LLC acted as the exclusive placement agent to JetSmarter in connection with the financing. Behdad Eghbali, Managing Partner and Co-Founder of Clearlake, and José E. Feliciano, Managing Partner and Co-Founder of Clearlake, will join JetSmarter’s board of directors as part of the transaction.

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