HENDERSON, Nev. & TORONTO & ORLANDO, Fla.--(BUSINESS WIRE)--Flight Vector (the “Company”), a leading provider of software solutions to the medical, public sector, utilities and industrial air & ground transport markets, has secured a majority strategic growth investment from Arcadea Group, long-hold, growth-oriented SaaS investor. As part of the transaction, Founder and CEO Scot Cromer will continue in his role as CEO while also maintaining a significant equity interest in the business. The transaction will allow the Company to accelerate its product roadmap and bolster services, delivery, and customer service, all in support of the Company’s tremendous ongoing growth.
Founded by Scot Cromer in 2004, Flight Vector’s suite of software is extensive, encompassing solutions for computer-aided dispatch (“FV CAD”), crew & mission (“FV Crew”), flight & duty and Operations Control Centers (“FVO”), smart routing & decision support, and fleet management (“FV Map” and “FV Transport”). Designed to allow each customer to completely customize their solution to meet their unique needs, the product suite increases efficiency, reduces workload, promotes safety, and ensures compliance - all while being extremely easy to use.
Scot Cromer had this to say about the transaction: “Over the years, we've been courted by numerous investors and buyers. As a bootstrapped founder, I sought a partner with strong operational support capabilities and a compelling vision for the Company. Arcadea was the only firm that ultimately met all my requirements. This partnership helps us enhance product offerings and customer service, expand our reach in current and new markets, and provides an environment that will ensure we continue to achieve at a high level.”
Paul Yancich, Managing Director of Arcadea, remarked, “With our investments in aviation and public safety transport, we quickly validated that Flight Vector is by far the dominant player in the market. Their products, notably OCC and Flight & Duty (“FVO”), demonstrate unparalleled quality and industry interest, and the flagship air and ground CAD offering (“FV CAD”) is truly the gold standard in industry. Meeting Scot, Dany Clay, COO, and engaging with the Flight Vector team only intensified our enthusiasm.”
Daniel Eisen, Managing Director of Arcadea, stated, "We're excited to back Flight Vector over the long-haul. Their aggressive customer centricity and focus on product expansion in both ground and air sectors aligns with our operating ideals. Given its significant growth and scale, it’s clear Flight Vector is the premier choice for leading businesses prioritizing safety and operational efficiency.”
About Flight Vector
Established in 2004, Flight Vector is a leading provider of innovative software solutions for the medical, public sector, and industrial air & ground transport markets. Flight Vector’s suite of software products provides users with powerful, customizable, and scalable solutions to meet the most complex needs in the rapidly changing dispatch, transport, and utility markets. The software provides its users with a significant ROI by improving efficiency, reducing costs, and giving a competitive advantage over others in the marketplace.
The key to our industry-leading products’ success is partnering with our customers to provide them with a truly unique experience. Each implementation is optimized to the user’s unique needs for both operations and program administration. Our customers are our biggest advocates as their success and satisfaction drive our team to provide superior products and the highest-level customer support in the industry. For more information on Flight Vector, visit flightvector.com.
About Arcadea Group
Arcadea Group invests in high-quality, strongly growing, typically founder-led vertical software companies over durations of time that no traditional private equity or growth equity firm can match. With headquarters in Toronto, offices in Florida, and portfolio companies in North America, Europe, and Australasia, Arcadea maintains a global investment purview. Arcadea leverages tailor-made, flexible strategies that prioritize value creation for all stakeholders, leveraging a leading, in-house Value Creation and Operational Support Team to improve capital efficiency and accelerate growth.