SAN FRANCISCO, February 1, 2023 - Portside, the leading Software-as-a-Service (SaaS) platform for the business aviation industry, today announced that it has raised 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 is a testament to Portside’s significant growth in 2022 and the increased adoption of its software solutions by the business aviation community. The company intends to use the new funding to accelerate software development and further expand its customer base and product portfolio.

Portside’s cloud-based product suite brings modern technology to the global business aviation industry and supports a diverse range of flight operations in over 30 countries, including charter, fractional, corporate, medical, industrial, government, military and cargo aircraft and helicopter operators. Its product portfolio supports a growing list of functions in a typical flight department’s operation, including flight and crew scheduling, dispatch and compliance; communication with aircraft owners, passengers and crew; highly customizable sharing of operational, financial, crew, and maintenance data with various stakeholders; reporting and analytics; customer billing; crew recruiting; and the booking of crew accommodations.

In 2022, Portside acquired two flight management systems, Professional Flight Management (PFM) and BART, which provide scheduling and dispatch software primarily for corporate flight departments. This latest investment enables Portside to enhance and modernize PFM and BART software offerings to better serve customers.

"Increasingly, operators in business aviation are looking for mobile-first and cloud-based solutions. Portside provides industry leading solutions that enable operators to grow their businesses while improving the quality of service they can offer. Our focus on the customer and delivering secure, intuitive and effective solutions makes Portside the best solution for all private, corporate and government flight departments," said Alek Vernitsky, co-founder and CEO of Portside.

"Portside’s modern product suite allows aviation operators to enhance their operations to maximize revenue and profits. As operators look to scale, they will adopt Portside’s technology to achieve their goals cost effectively," said Henry Frankievich, Managing Director at Insight Partners. "We look forward to supporting the team on their continued path to modernize business aviation with industry leading technology and growth.”

Portside will invest the new funds in several key areas. First, the company’s product team will continue to develop and enhance its product portfolio to better serve customer needs. The company also intends to expand its global sales organization and strengthen its customer success operations. Lastly, the company will be exploring new acquisition opportunities in the business aviation ecosystem.

"Our customers often come to us with challenges they need help solving. We are here to find a solution, whether by deploying an existing product in our portfolio, building something new or acquiring capabilities that we do not currently possess. Despite our tremendous growth over the past few years, we are as excited today to be solving customer problems as we were on day one,” said Alek Strygin, co-founder and COO of Portside.

About Portside

Portside is a modern, cloud-based operating system for the global business aviation industry: a set of integrated software solutions addressing major industry pain points. The Portside platform supports over 700 business aircraft operators in over 30 countries. Some of their customers include Airshare, Jet Aviation, Priester and Wheels Up. Portside is headquartered in San Francisco with team members across the US, Europe and Asia. To learn more about Portside, visit portside.aero.

About Insight

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

SAN FRANCISCO, CALIFORNIA, January 12, 2022 - Portside, Inc. (Portside) announced today that it has acquired SeaGil Software Company (SeaGil) and its BART scheduling software product suite. Portside’s investment signifies another step the company is taking to expand its product suite which supports business, private, and government aviation flight departments.

The investment will support the continued growth of Portside’s customer base of Part 135 and Part 91 flight departments. After acquiring Professional Flight Management, “PFM”, in July of last year, Portside looks to provide the business aviation market with a range of scheduling solutions. The two scheduling software acquisitions, PFM and BART, serve different market needs and have their own unique competitive advantages.

“Delivering mobile-first scheduling solutions is one of the many ways BART products work to increase accessibility as well as efficiencies for flight departments,” said Alek Vernitsky, CEO of Portside. “We are continuing to make strategic investments in scheduling solutions that can build on our core Portside products including the Owner Portal, Optimizer, ExpensePulseTM, and others, further expanding the tools we offer to flight departments globally. SeaGil delivers a distinct product, and will be complementary to our existing Portside and PFM offerings, further expanding our capabilities to best meet the needs of commercial and private operators alike.”

The BART product suite was first introduced in 1986 and owned by Bradley Tilford and his wife, Kimberly Tilford. Over the last few years, SeaGil has rapidly expanded its customer base, supporting hundreds of operators, over 6,000 aircraft and well over 15,000 crew members globally.

“Brad and the team have worked hard to serve their customers for over 35+ years,” said Kimberly Tilford, CEO, SeaGil Software Company. “Portside’s investment is a validation of our proven growth strategy and product capabilities. The team will remain focused on driving the best outcomes for our customers.”

Following the completion of the acquisition, SeaGil will continue to operate as it does today with a distinct brand, identity, and product focus. Portside’s investment will enable BART to accelerate product development, complete additional integrations, and enhance our customer support capabilities.

About SeaGil

SeaGil Software Company, LLC has been providing private aviation management software since 1985. Over the past 30+ years, BART (Business Aircraft Records & Tracking) has grown into an internationally recognized system for any Charter and Corporate operators. The BART product suite offers an intuitive system that users easily understand with minimal training; therefore allowing customers to introduce BART to their staff with ease.

About Portside

Portside is developing a modern, cloud-based operating system for business and government aviation: a set of integrated solutions addressing major industry pain points. The Portside platform supports over 700 operators of business jets, helicopters, industrial and government fleets, as well as fractional jet ownership programs in over 30 countries. Portside is headquartered in San Francisco with team members across the US, Europe and Asia. Learn more about Portside at www.portside.aero

Media Contact: media@portside.co

SAN FRANCISCO, Calif.-- Today, Portside announced it has acquired Professional Flight Management (PFM), a leading scheduling and dispatch software platform for corporate flight departments. The combination of Portside and PFM will provide an enhanced suite of software solutions for private, business and government flight departments.

Portside’s mission is to bring modern technology to business aviation. Today, the industry relies on many disconnected systems and manual processes. From streamlining operator communication with aircraft owners through the Portside Owner Portal; to allocating the fleet and crew effectively with Optimizer; to managing the backend expense and billing processes with ExpensePulseTM, Portside continues to provide its customers with innovative solutions addressing their key pain points.

PFM’s mission is to provide a comprehensive set of scheduling, record keeping and reporting applications for corporate, private, and government flight departments. Founded by Bill Figures in 1983, originally born out of a Fortune 100 Company’s flight department, PFM has been led by Bill and Julie Figures, serving customers for almost 40 years. Today, PFM supports hundreds of flight departments, including many of the largest Fortune 500 corporate fleets in the world. Customers choose PFM because they value the Company’s innovative and resilient solutions, 24/7 customer support, and the ability to meet challenging needs faced by complex flight departments operating globally.

Together, Portside and PFM will continue development of private, business and government aviation technology, advance software solutions available to the industry, and accelerate the process to upgrade software for the increasingly mobile-first and cloud-based business aviation ecosystem. The combined company will have a sizable, fast-growing market opportunity and capabilities to drive significant value for customers and the industry.

“Portside’s competitive advantage is our ability to focus on the customer experience and deliver cutting-edge technologies,” said Alek Vernitsky, CEO of Portside. “With PFM, we now gain a deeper understanding of the needs and expectations for the corporate flight departments which will accelerate our vision to support the broader private, business and government aviation industry.”

Continue development of private, business and government aviation technology

Portside and PFM are deeply committed to pushing the industry forward by developing innovative tools. With Portside’s and PFM’s extensive product set, customers will be able to access a greater set of robust capabilities to support the safety, efficiency and collaboration needed to manage a well-run flight department.

Advance software solutions available to the industry

Operators are challenged with the ever-changing requirements imposed on their operation impacting their ability to scale effectively. Whether it be staffing constraints, asset management, regulation, communication tools or mobile accessibility, there are many processes that are currently managed with excel sheets and phone calls that can easily be solved with the right technology. With PFM, Portside takes another step forward in assembling and creating a comprehensive business and government aviation platform.

Accelerate the process to upgrade software

Upgrading complex legacy systems is no easy feat. With Portside’s expertise, PFM products will have a clear path to cloud-based, mobile-first architecture. This will benefit all stakeholders, as upgraded technology will allow operators to maintain a modern operation, while having the flexibility to operate in a resilient way that’s critical for government and corporate customers alike.

“Portside has a bold vision of building an end-to-end technology ecosystem for corporate flight departments and we have seen them continue to grow their product suite at a fast pace focused on serving the end user,” said Bill Figures, Founder of PFM. “We always prided ourselves in treating our customers as family and are confident that our customers will be in good hands and will get added value as we join Portside,” added Julie Figures.

About PFM

Professional Flight Management, Inc. (PFM) provides the most comprehensive set of scheduling, record keeping and reporting applications for corporate, private and government flight departments. Their products include Corporate Flight Scheduling & Dispatch, Record-Keeping, Request & Corporate Shuttle Systems, Crew Apps, Lobby Flight Status Board, among others which are integrated into many third-party providers so customers can use the vendors of their choice. PFM has expanded to work with over 200 private, corporate and government flight departments worldwide. PFM is headquartered in Bala Cynwyd, PA with team members located within the US. More information about PFM can be found at www.pfmsys.com

About Portside

Portside is developing a modern, cloud-based operating system for business and government aviation: a set of integrated solutions addressing major industry pain points. The Portside platform supports over 150 operators of business jets, helicopters, industrial and government fleets, as well as fractional jet ownership programs in over 30 countries. Portside is headquartered in San Francisco with team members across the US, Europe and Asia. Learn more about Portside at www.portside.aero

Media Contact: media@portside.co