Tech Company Financing Transactions
Wheels Up Funding Round
On 10/10/2017, Wheels Up raised $117.5 million in funding from Fidelity Management & Research Company, T. Rowe Price and KKR.
Transaction Overview
Company Name
Announced On
10/10/2017
Transaction Type
Venture Equity
Amount
$117,500,000
Round
Undisclosed
Investors
Fidelity Management & Research Company (Lead Investor)
T. Rowe Price (Lead Investor)
Proceeds Purpose
According to Wheels Up Founder and CEO Kenny Dichter, this latest round of financing will fund a number of growth initiatives, including adding to the Wheels Up exclusive fleet of Beechcraft King Air 350i aircraft; accelerating membership growth through further investment in sales and marketing; continued exploration of and planning for an expansion into Western Europe and other markets; and significant enhancement of the Company's digital platform. Wheels Up is also looking at adding Citation X aircraft to its private fleet of King Air 350i and Citation Excel/XLS, starting as soon as the first quarter of 2018.
Company Information
Company Status
Private & Independent
Industry
Transportation
Mailing Address
220 West 42nd St. 9th Floor
New York, NY 10036
USA
New York, NY 10036
USA
Phone
Undisclosed
Website
Email Address
Overview
We created Wheels Up because we knew we could deliver a cost-effective, best in class experience to private fliers. We knew this because we have one of the most experienced teams in private aviation.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Kenny Dichter
Chief Financial Officer
Eric Jacobs
Chief Operating Officer
Jason Horowitz
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