Aviation data and market intelligence provider JetNet has raised an unspecified amount of outside capital from Boston-based growth equity firm Silversmith Capital Partners. Under the deal, Silversmith has acquired a majority stake in JetNet, which plans to use the funding to expand its product footprint, invest in sales and marketing, and scale the team.

“We are thrilled to partner with Silversmith for the next chapter of JetNet’s growth,” said Tony Esposito, who is now JetNet’s minority owner and a member of the board. “Since my father founded the company 34 years ago, we have built JetNet with a relentless focus on our customers and our culture. Partnering with an investor for the first time was not a decision we took lightly. In Silversmith we found a partner who not only brings the expertise we need to continue to grow, but also shared [our] values.”

“JetNet has done an exceptional job building a best-in-class solution that customers love,” said Silversmith managing partner Jim Quagliaroli. “The JetNet platform powers the day-to-day operations of thousands of customers around the world, and we are excited to support the company in its next phase of growth.”

Quagliaroli, Ned Kingsley, and Becca Katzen from Silversmith have joined the company’s board of directors alongside Esposito and JetNet CEO Greg Fell.