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Business Air News
Business Air News
The monthly news publication for aviation professionals.

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Portside

Ops Software

BAN's World Gazetteer

California
The monthly news publication for aviation professionals.

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Portside gains investment from Vista and Insight
Vista Equity Partners leads investment in Portside, whose product offering helps customers achieve visibility and derive valuable insights across financial and logistical operations of their fleets.
Portside COO and co-founder Alek Strygin with CEO and co-founder Alek Vernitsky.

Software solutions provider Portside has received a strategic growth investment led by Vista Equity Partners (Vista), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. Existing investor Insight Partners also participated in the minority investment. Portside intends to use the new funding to drive continued growth through product and customer expansion strategies.

Portside's cloud-based software solutions power a diverse range of flight operations for scheduled and unscheduled aircraft operators, including charter, fractional, corporate, medical, industrial, government, helicopter, military and cargo fleets. The company's product suite is comprised of simple-to-use and highly integrable tools designed to enable core private aviation operations, such as flight and crew scheduling, record-keeping, safety reporting, compliance and critical back-office business and administrative functions such as budgeting, invoicing and human resources. Portside's product offering helps customers achieve visibility and derive valuable insights across financial and logistical operations of their fleets.

"Portside is building a turnkey and scalable operating system that spans the full range of business aviation needs," says CEO and co-founder Alek Vernitsky. "Portside has strong momentum, and we look forward to partnering with Vista and leveraging its considerable software and operational expertise as we continue to build our business and enhance our product offerings for customers."

Vista's investment in Portside was made by the firm's Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue. Managing director Ben Benson will join Portside's board of directors, effective immediately.

"Portside is led by an experienced team that understands well the unique opportunity presented by the fragmented software market serving the growing business aviation industry, as well as the diligence and discipline required to bring the company to the next level," says Rachel Arnold, co-head of Vista's Endeavor Fund and senior managing director.

"Portside has built an impressive and differentiated platform that is rapidly emerging as a market-leader in aviation operations software," adds Benson. "We look forward to partnering with Alek and the entire Portside team as they embark on this exciting next phase of growth."

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