Palo Alto – August 18, 2017 – Cooley is advising Clearlake Capital on its investment in JetSmarter, the leading technology-enabled marketplace for private aviation. Clearlake is the lead sponsor in the investment, which includes participation from Leucadia National Corporation and existing investors.
Founded in 2012, JetSmarter is known for creating a new class of flying called social aviation, which pairs the practice of purchasing low cost empty legs and underutilized capacity with the sharing economy. Its asset-lite approach allows JetSmarter to substantially reduce costs, making private aviation available to more consumers and businesses. JetSmarter is the world’s largest marketplace for private aviation, with over 670,000 registered app users, 10,000 members, and connectivity to 3,200 aircraft, and has transported over 40,000 unique passengers since inception. The investment will enable JetSmarter to accelerate growth by continuing to launch new products and routes globally and by increasing supply on existing routes.
“We look forward to partnering with the talented JetSmarter management team as we make a significant growth investment in the company,” said José E. Feliciano, managing partner and co-founder of Clearlake. “JetSmarter can now leverage our substantial resources and operational expertise in technology-enabled services, and we look forward to supporting the team as the company scales and executes on their compelling growth strategy."
The Cooley team advising Clearlake was led by Palo Alto-based partner Mehdi Khodadad. Cooley has a longstanding relationship with Clearlake, advising the firm on various transactions and portfolio matters since 2011.
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