November 17, 2023
AireXpert Successfully Concludes $3 Million Seed Round, Sets Sights on Major Airline Client
AireXpert, a Buffalo-based startup specializing in aircraft maintenance management software, has successfully closed a seed funding round, securing $3 million, exceeding its initial target of $2 million. Leading the investment is early-stage equity firm Reformation Partners, based in Miami, with participation from Launch NY, an existing investor. The funding round marks a shift for AireXpert from primarily angel and Launch NY funding to institutional investment.
The startup’s software streamlines the complex maintenance processes required for commercial planes before they can take flight. AireXpert recently initiated a customization project with United Airlines, positioning itself as a multi-year software-as-a-service provider. The company’s goal is to engage larger, globally recognized airlines with a United Airlines partnership as a marquee client.
Reformation Partners will not only provide financial support but also share expertise, such as shortening sales cycles and facilitating introductions that could lead to future opportunities. With the funding, AireXpert plans to expand its team by hiring a vice president of engineering, a director of sales, four full-time developers, and several operations-oriented roles, doubling its size by the end of Q2 2024. Over the past year, the startup has achieved a 112% year-over-year revenue increase and is on track to reach $1 million in annual recurring revenue by year-end.
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