Lowenstein Sandler represented Portside, Inc., a global company that provides SaaS management tools and solutions for modern flight departments, charter operators, and fixed-based operators across 30+ countries, in its $55 million strategic growth investment. The growth investment was led by Vista Equity Partners. Existing investor Insight Partners also participated in the minority investment.
Portside plans to leverage the new funding to fuel ongoing growth by expanding its product range and increasing its customer base. Vista’s investment in Portside was made through the firm’s Endeavor Fund, which offers growth capital and strategic support to top-performing, high-growth companies in the enterprise software, data, and technology sectors that have reached at least $10 million in recurring revenue.
Portside provides cloud-based software solutions that support a wide variety of flight operations for both scheduled and unscheduled aircraft operators, including those in charter, fractional ownership, corporate, medical, industrial, government, helicopter, military, and cargo sectors. Their suite of products includes user-friendly and highly integrable tools designed to facilitate essential private aviation activities such as flight and crew scheduling, recordkeeping, safety reporting, compliance, and critical back-office functions like budgeting, invoicing, and human resources. Portside's solutions enable customers to gain visibility and derive valuable insights into the financial and logistical operations of their fleets.
The Lowenstein deal team included Brendan J. Koeth, Matthew R. VanderGoot, Samantha Fox, Rahul J. Devnani, Chad M.P. Weeks, Bonnie E. Schipper, Brian A. Silikovitz, Mark P. Kesslen, Brianne L. Polito, P. “Kai” Knight, James O’Grady, Marianna Shelenkova, Ian S. Ludd, Darren Goodman, Doreen M. Edelman, Abbey E. Baker, and Chynara Tolubaeva.
