The company plans to use the capital to accelerate product development and expand its team.
OVERLAND PARK, Kan., March 31, 2022 /PRNewswire-PRWeb/ -- Flight Schedule Pro, a leading provider of cloud-based business management software for flight schools, universities, flying clubs, and other aviation constituents announced today a $31 Million investment from Mainsail Partners, a growth equity firm that invests in fast-growing, bootstrapped software companies.
Founded in 2000 by Jasen Barnes (CEO) and Nick Wegner (CTO), Flight Schedule Pro's mission is to provide aviators, aircraft operators, and flight schools with technology and tools to help facilitate their success. Flight Schedule Pro plans to use the investment to accelerate its product roadmap, invest in its team, and expand its customer service capabilities.
Founders Wegner, a trained pilot, and Barnes launched Flight Schedule Pro while at the University of Kansas, inspired by firsthand experience with inefficient aviation training processes. In the years since, Flight Schedule Pro has grown into a full suite of business management and flight training solutions. Today, the product enables flight schools, flying clubs, aviation maintenance, repair and overhaul (MRO) departments, and pilots to improve efficiency in flight scheduling, billing, payments, training, fleet maintenance and day-to-day reporting. By leveraging Flight Schedule Pro, customers can reduce administrative complexities, increase aircraft and instructor utilization, and decrease unbilled flight time. The product is used by over 1,000 operators that collectively maintain and utilize nearly 10,000 aircraft used by over 150,000 student pilots and certified instructors.
Both founders believe they are entering a critical time in the company's history, as the industry is experiencing a large and growing pilot shortage that is increasing demand for flight training. In their Pilot and Technician Outlook 2021-2040 report, Boeing expects the industry will need 612,000 pilots to replace the existing pilots in the industry over the next 20 years. Due to this shortage, there's been an increasing demand for flight training and safety.
"Alongside our customers, we believe we are in a unique position to provide a solution to the pilot shortage. We care about people and—through aviation safety and quality training—we want to empower our customers and students to achieve their aviation dreams," said Wegner.
"Creating Flight Schedule Pro has been the challenge of a lifetime," said Barnes. "We searched for a partner who would complement our skillset and help accelerate our growth, and Mainsail stood above the pack. They have an amazing team who believes in our vision for the future."
"We are excited to be partnering with the team at Flight Schedule Pro," said Jason Frankel, Partner at Mainsail. "We believe they have an innovative software product that serves an industry that is underserved by technology solutions, and they've shown a dedication to continually improving the product and enabling their customers, student pilots, and certified instructors to grow and achieve their goals."
Gavin Turner, Managing Partner of Mainsail will join Frankel, Barnes and Wegner on the company's board of directors. In addition, Paul Bridgewater, a multi-time software CEO, and current CEO of ResMan will join the board as Executive Chairman.
About Flight Schedule Pro
Flight Schedule Pro is a software-as-a-service provider in the aviation industry, serving 1,000+ operators and booking over 10,000 flights per day. Established career pilot training centers, universities, and colleges across the country use Flight Schedule Pro to help them streamline operations, grow their businesses and introduce more people to the world of flying. The platform offers Flight Scheduling, Part 141 & Part 61 Training, Online Billing and Payments, and Aircraft Maintenance Operations Management.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in San Francisco and Austin that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm's approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
Sarita Ray, Mainsail Partners, 1 415-820-4361, [email protected]
SOURCE Mainsail Partners