A Commendable Milestone
JetSmarter recently announced its Series C funding resulting in a $1.5 billion pre-money valuation, making it the first “unicorn” of the skies, according to its President, Gennady Barsky.
The impressive financial subsidy will effectively serve to support JetSmarter’s unremitting expansion of services across global markets, predominantly through Asia and Latin America. The number of routes and flights available to JetSmarter members in the U.S. is also said to grow considerably as a result.
Members of the Saudi royal family, as well as prolific recording artist, Shawn “Jay-Z” Carter, remain loyal financiers to JetSmarter. This round, the business magnates sweetened the pot with significantly taller investments.
New to the JetSmarter roundtable of investors were Abu Dhabi-based equity fund, JetEdge (the global private aviation company that operates fleets of large cabin jets), KZ Capital in London, a Qatar-based private equity fund, along with other strategic backers who remain undisclosed.
Mr. Barsky proudly explains that JetSmarter connects travelers to flights in 50 markets around the world, including New York, Chicago, Fort Lauderdale, Las Vegas, Atlanta, London, Paris, Moscow, Dubai, Milan, plus other business and leisure travel hubs.
JetSmarter CEO, Sergey Petrossov commented further, sharing the aim to cast an even wider net, notably extending the company’s available services to nearly 100 markets by the end of 2017. Moreover, Mr. Barsky and his executives plan on connecting additional cities on the U.S. map. Expect more Florida destinations to Boston, New York and Washington, D.C., as well as San Francisco to Seattle.
The company’s expeditious approach to making ideas a reality thoughtfully opened its doors to XOJET President and CEO Bradley Stewart - also a senior advisor to private equity firm TPG - who has tactfully joined the JetSmarter board with a partnership that is allowing JetSmarter to mature its aircraft supply chain and routes in North America.
JetSmarter continues to grow rapidly in what was an otherwise faltering private aviation space. Where so called “competitors” have failed, JetSmarter has excelled, a clear testament that its fast-tracking travel tech is making a unique and positive impact to set it miles apart.
Petrossov added, “We scale from the community. We use predictive maps and algorithms to find where the demand is, so that we will never over-supply the market and can just meet the amount of demand we have. Other companies would over-supply and fly where they’d have 20% loads. We have zero deadhead weight on our shuttles and a 90% load factor.”
The lean and mean start-up partners with operators, owners and carriers who manage and maintain the aircraft, hire pilots and deal with safety and compliance issues for the heavily regulated industry, efficiently clearing the runway for all those who choose to JetSmarter so comfortably.
In fact, Mr. Barsky, himself, uses JetSmarter services to tremendous
advantage and ease, traveling all over the world to meet the clutch investors
who have joined him in moving mountains; his extensive business contacts between New York, Dubai, Kuwait, and Sardinia have all recently given him reason for an elegant dance in the sky.
It’s no wonder JetSmarter has reached prodigious “unicorn” acclaim, and that its valiant crew looks to ride this noble steed all the way to the moon. One thing is certain: company spirit soars higher than ever at JetSmarter.