BOONE – A cloud-based provider of operations management software for the aviation sector has closed $20 million in additional capital.

According to a statement, the Boone, North Carolina based AvSight has brought in $20 million in a strategic growth equity investment from Arcadea Group.

With the new funding, the company plans to “accelerate its product roadmap” along with strengthening other areas of its business.

For a long time, the aviation aftermarket space has been dominated by legacy technology solutions. More and more, we’re seeing that forward thinking customers are tired of being held back by their software and are ready to embrace the modern digital solutions that AvSight offers,” said Scott Loescher, president, CEO, and co-founder of AvSight.  “We’re excited about the opportunities for continued growth and product enhancements that this partnership will open up for us and the benefits it will bring to our customers.”

The company is hiring for one position, according to its website.

Despite venture capital investment into North Carolina slowing in the fourth quarter of 2022, investors across the state remain optimistic.  And there’s already been multiple startups that have closed capital raises in the early weeks of 2023, including Plantd and CureMint.

Venture funding falls but investing remains strong in Triangle for ’23, funders say