Portside, the leading SaaS platform for business aviation, announced today a $50 million Series B investment led by global software investor Insight Partners, with participation from existing investors including I2BF Global Ventures.
This new round of funding recognizes Portside’s significant growth in 2022, as well as the increased adoption of its software solutions by the business aviation community.
The new funds will be used to accelerate software development and expand the company’s customer base and product portfolio.
After selling their first business, GetGoing, a start-up travel agency, to the business travel management company BCD Travel in 2016, Vernitsky and Strygin launched Portside. After GetGoing was acquired, Vernitsky (together with Strygin) spent years as an SVP at BCD Travel, where he previously served as head of product.
Portside offers solutions that automatically assign crew and aircraft in accordance with a defined timetable and standardize the reporting of business aviation flights. A pilot and crew database is accessible to employers through Portside’s staffing marketplace, and a special services app assists in managing crew lodging. Additionally, Portside keeps up a management interface for operations that aids in dispatching and scheduling government, business, and charter aircraft using current aviation technologies.
Vernitsky says that the capital from the latest funding round will be put toward software development and “further expanding” Portside’s customer base and product portfolio.
The startup employs 110 people currently and aims to grow to 150 by the end of the year.
