smartsky networks announces $104m funding round

February 6, 2019

The aviation industry’s transformative inflight internet provider, SmartSky Networks, announces the closing of a total of $104M in funding, including $75 million in debt commitments from funds managed by the Global Credit team at BlackRock and equity investments by private equity firms Tiger Infrastructure, WP Global, Platform Partners, and Meritage Investors. The funds will be used in the on-going rollout of SmartSky’s nationwide air-to-ground network. With this new round of financing, SmartSky has raised almost $350M in funding to date. The company is advised by Allen & Company LLC.  

“This investment represents an expression of confidence in SmartSky by these sophisticated investors, including some of the most highly regarded institutions in the world,” said SmartSky CEO Haynes Griffin, “and comes only a few days after the announcement of our first commercial aviation customer. Both of these milestones were preceded by firsthand flight trials which demonstrated conclusively to these partners the ability of SmartSky’s blazing-fast, affordable two-way internet connectivity to fundamentally transform aviation.”

Last week, CEO Alex Wilcox of JetSuiteX, a rapidly growing regional air carrier, stated, “After a rigorous selection process including my personal inflight evaluation, we chose SmartSky’s state-of-the-art, high-speed technology because it delivers the most compelling user experience.”