VIENNA, Sept. 20, 2024 /PRNewswire/ — Flightkeys Group (“Flightkeys” or the “Group”), the cloud-based flight planning and optimization software built specifically for the most innovative global airlines, today announced a strategic growth investment from global software investor Insight Partners.
Founded in 2015 by a team of passionate aviation experts with a combined 200 years of experience, Flightkeys offers the most modern, cloud-based solution for dynamic flight planning and optimization. FLIGHTKEYS 5D enables innovative airlines to maximize airline network throughput, increase on-time performance, minimize greenhouse gas emissions and carbon footprint, and ensure compliance with the highest safety standards. Built entirely from the ground up using modern software standards, Flightkeys has powered 291 million trajectories and generates 380,000 flight plans daily.
“At Flightkeys, we set out to build the best flight planning software solutions to help the airline industry deliver better performance for passengers all over the world,” said Flightkeys Co-Founders Christoph Prinz and Raimund Zopp on behalf of Flightkeys’ seven co-founders. “We are delighted to be working with Insight Partners, who supports our vision of building world-class software solutions for airlines that make dispatchers and pilots more effective and allows airlines to improve operations for the benefit of their customers.” The founders of Flightkeys retain majority control and management of the Group.
The investment comes at an exciting time for Flightkeys. The company’s leading solution powers flight planning at some of the world’s largest carriers, with many more currently implementing FLIGHTKEYS 5D. Insight’s partnership enables Flightkeys to accelerate the company’s investments into its strategic roadmap, R&D, and customer service.
“We are very excited to be partnering with Flightkeys’ founders in their mission to bring modern, cloud-based flight planning software to the aviation industry,” said Henry Frankievich, Managing Director at Insight Partners. “At Insight, our goal is to find and partner with founders who are driving visionary, positive change in their industries. The Flightkeys team is highly experienced in aviation and built a solution that is rapidly becoming the market-standard for flight planning operations globally – ultimately making aviation more efficient, cleaner, and safer for the benefit of all.”
In conjunction with the investment, existing investor B&C Group will transfer its shareholding position in Flightkeys to Insight after a highly successful eight-year investment. B&C’s investment in Flightkeys represents a landmark transaction in the Austrian technology industry.
“Flightkeys is an Austrian role model company and a success story for its founders as well as for B&C: The B&C Group has accompanied Flightkeys on its growth path as lead investor since 2016,” said Thomas Zimpfer, Managing Director of B&C Group. “Flightkeys is a great example for high-tech and software competence from Austria. At the same time, Flightkeys represents a perfect example for our ambition at B&C to act as a partner and to enable Austrian tech companies to grow and prosper.”
Flightkeys, based in Vienna, Austria with 110 employees globally, offers FLIGHTKEYS 5D to optimize flight schedules for airlines in real time to save costs and to reduce emissions. Subsidiary company Spacekeys provides RAIM prediction of GPS satellite signals; a further subsidiary company, Skykeys, revolutionizes the work of pilots with Loretta, its in-cockpit optimization solution. Flightkeys is a rapidly scaling market leader in U.S. and European markets and offers its solutions to all global airlines.
The investment remains subject to regulatory approval and is expected to close in Q4 ’24.
Drake Star served as financial advisor to Flightkeys Group. Legal advice to Flightkeys and its founders was provided by Schönherr Rechtsanwälte GmbH and Jank Weiler Operenyi Rechtsanwaelte GmbH. Willkie Farr & Gallagher and E+H Rechtsanwälte GmbH provided legal advice to Insight Partners. Grohs Hofer Rechtsanwälte GmbH provided legal advice to B&C Group.
About Flightkeys Group
Flightkeys and its subsidiary companies Spacekeys and Skykeys develop and market software to optimize flight routes (Trajectory Optimization) and flight schedules in real time for the aviation industry as well as systems to assess GPS satellite signals and a cockpit application to optimize flight trajectories regarding costs and emissions. By doing so, the group is a global leader in considering condensation trails in flight planning and execution. Founded in April 2015, the company with its headquarters in Vienna employs 110 experts. Flightkeys is already a market leader in the U.S. and has clients among well-known U.S. and European carriers.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
About B&C Group
The B&C Private Foundation (www.bcprivatstiftung.at) is an independent foundation. Since its inception in December 2000, its goal has been to foster Austrian entrepreneurship and strengthen Austria’s position as a business hub. B&C acts as a stable core shareholder in Austrian industrial companies through its holding companies, the B&C Group (www.bcgruppe.at). B&C is core shareholder of Lenzing AG (37.25%) and holds majority stakes in Semperit AG Holding (54.2%) and AMAG Austria Metall AG (52.7%). Through B&C Innovation Investments, B&C Group has been investing in tech-driven growth companies since 2016. It currently holds stakes in Awake Mobility, Citrine, Contextflow, Flightkeys, Frequentis, Kinexon, Klarx, Neoom, ParityQC, TriLite und TTTech.
SOURCE Insight Partners
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