Wheels Up Raises $128 Million to Accelerate Growth and Digital
Summary
Wheels Up Founder and CEO Kenny Dichter said this latest round of financing will fund a number of business initiatives, including additional potential acquisitions, the acceleration of membership growth through further investment in sales and marketing, and significant scaling of the Companys technology and digital platforms. "As we invest further in growth-focused initiatives, we will focus on potential strategic acquisitions and rapid digital advancements to further our mission of bringing the highest-quality private flight to millions and the private-flying lifestyle to the world, in order to execute our vision of building the worlds most engaged community of private fliers. Wheels Up offers a total private aviation solution for its 6,000+ members across North America through three unique membership options—Connect, Core, and Business—and a vast selection of program features. Wheels Up Core and Business Members receive guaranteed access to a members-only fleet of 93 King Air 350i, Citation Excel/XLS and Citation X aircraft (operated exclusively by Gama Aviation)—up to 365 days a year, with as little as 24 hours notice, paying fixed hourly rates for time flown only. All Wheels Up Members have access to signature events and a platform of curated benefits from the worlds preeminent lifestyle brands.