Lowenstein Sandler represented Volantio, an Atlanta-based technology startup, in the successful completion of its $6 million Series A raise led by DiamondStream Partners, an aviation and aerospace venture capital firm, with participation from Alaska Airlines and follow-on investments from JetBlue Ventures, IAG, Amadeus Ventures, and Ingleside Investors. The company plans to use the capital to rapidly scale its global team and invest in product development.
Volantio's market-leading platform "GreenLeaf" uses machine learning to address optimization challenges for fixed-capacity industries, which today represent over $5.7 trillion in revenue globally. One strong use case for this type of technology lies within the aviation industry: GreenLeaf shifts demand from flights that are close to selling out to others with more space available — increasing revenue, lifting asset utilization, and improving the experience for both customers and front-line airline staff.
The company has more than tripled its customers in the last two years, and has recently expanded into the live events industry through a first-of-its-kind partnership with Disney Theatrical Group.
The Lowenstein deal team included Anthony O. Pergola, Laura Cicirelli, Claire Dronzek, Chad M.P. Weeks, and Eric Sands.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
