Portside, a provider of cloud-based software for the business aviation industry, has received a $17 million investment from a group of private equity investors to accelerate product development, engage large customers, and add staff. The investment was led by Tiger Global Management, with participation from existing Portside investors I2BF Global Ventures and SOMA Capital.

The San Francisco-based company's cloud-based data platform offers business aviation providers and flight departments a single system that combines flight operations, crew and staff scheduling, expense management, maintenance, and financial and budgeting data to streamline workflows and optimize operations. Last year, Portside recorded a nearly 300 percent increase in revenue and added more than 50 private, managed, fractional, and government fleet operators to what it said is a rapidly growing customer base in more than 25 countries.

"We appreciate the strong support we have received from both our existing and new investors in this round,” said Portside co-founder and CEO Alek Vernitsky. “They have collectively demonstrated their confidence in our strategy and intentional approach to cloud-based digital transformation of the global business aviation industry.”