Business Aviation News

JETNET Raises Growth Capital

JETNET Raises Growth Capital

JETNET, the US-based aircraft research and data provider, has raised an undisclosed sum to help it grow.

In a press release issued on July 19th, the company announced that it had secured a majority growth investment from growth equity firm Silversmith Capital Partners.

Silversmith’s website says that it works with companies that have already built successful businesses in a capital-efficient way, and are now ready to accelerate their growth.

It is the first time that JETNET has taken on external investment.

“We are thrilled to partner with Silversmith for the next chapter of JETNET’s growth,” said Tony Esposito, minority owner and member of the Board of Directors, JETNET. “Since my father founded the company 34 years ago, we have built JETNET with a relentless focus on our customers and our culture. Partnering with an investor for the first time was not a decision we took lightly. In Silversmith we found a partner who not only brings the expertise we need to continue to grow but also shared the values that have served as the company’s foundation.”

JETNET’s funding comes hot on the heels of the appointment of new Chief Executive Officer Gregg Fell, who joined the business in December 2021.

“I made the decision to join JETNET because as a long-time user of the company’s services, I believed that the platform was not only the best product offering in the industry but that it was well positioned to see continued organic growth across many end markets,” said Gregg Fell, CEO, JETNET. “Silversmith’s extensive experience in helping information companies accelerate growth both organically and inorganically will be invaluable to our team as we look to expand our research capabilities and global footprint.”

JETNET says that it will use the funds to expand its product footprint and team, as and to invest more into its sales and marketing divisions.

“JETNET has done an exceptional job building a best-in-class solution that customers love,” said Jim Quagliaroli, Managing Partner, Silversmith. “The JETNET platform powers the day-to-day operations of thousands of customers around the world, and we are excited to support the company in its next phase of growth.”