Airspace Valuation, Funding & Investors
Airspace is valued at $100M as of November 2018.
Last Airspace valuation
$100M
Series B · Nov 2018
Last Airspace funding round
$70M
Series D · May 2022
Cumulative funding Airspace raised
$136M
across 4 funding rounds
Key investors in Airspace
Qualcomm Ventures
Defy.vc
Scale Venture Partners
MaC Venture Capital
Titanium Ventures
HarbourVest Partners
About Airspace
Airspace is a logistics platform for time-critical shipments in healthcare, aerospace, and manufacturing. Proprietary algorithms deliver instant quotes, optimized routing, and real-time tracking. Established in 2016 and headquartered in Carlsbad, California, it operates internationally via an Amsterdam office serving over 200 clients.
Founded
2016
HQ
San Diego, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$100M (Nov 2018)
Airspace Valuation
Airspace is currently valued at $100M, based on its Series B in November 2018.
The $20M round was led by Scale Venture Partners, with participation from Qualcomm Ventures, MaC Venture Capital, Schematic Ventures and Defy.vc.
Airspace valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2018 | Series B | $100M |
Airspace Funding History
Airspace has raised a total of $136M across 4 funding rounds.
Airspace's first fundraising round was a $8M Series A in August 2018. The most recent completed round was a $70M Series D in May 2022.
Airspace funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2022 | Series D | DBL Partners (lead); HarbourVest Partners (lead); Titanium Ventures (lead); Qualcomm Ventures; Scale Venture Partners; Prologis Ventures; Defy.vc | $70M | - | Airspace is a technology company revolutionizing time-critical logistics, founded in 2016 by Nicholas Bulcao and Ryan Rusnak to solve problems in expedited deliveries through an AI and machine learning platform. The platform provides complete transparency into shipment status and carbon footprint, enabling customers to optimize routes with minimal environmental impact while ensuring critical packages are delivered when time is essential. On May 25, 2022, Airspace closed a Series C-II funding round totaling $70 million led by DBL Partners and co-led by HarbourVest Partners and Telstra Ventures, with participation from existing investors Scale Ventures, Defy Ventures, Qualcomm Ventures, and Prologis Ventures. This round brought total company funding to $138 million. The company demonstrated strong operational metrics including 110% year-over-year growth in 2021, an NPS score of 60 (exceeding industry average by 40+ points), a 99.8% monthly retention rate, and over one million completed shipments. Airspace served numerous Fortune 500 companies across healthcare, aerospace, semiconductor, and automotive manufacturing. The funding was designated for geographic expansion into Europe and Asia, new service lines including expedited freight, expansion into additional customer verticals such as semiconductor, automotive, and cleantech, and reinforcing sustainability commitments. By May 2022, the company operated offices in Carlsbad, Dallas, Amsterdam, Stockholm, and London, employed more than 300 people, and had grown its European market share to over 10% of revenue, up from 1.5% in 2020. |
| Jan 2021 | Series C | HarbourVest Partners (lead); Titanium Ventures (lead); Qualcomm Ventures; Scale Venture Partners; Prologis Ventures; Defy.vc | $38M | - | Airspace is a technology-based freight forwarder specializing in time-critical logistics, managing complex shipments like organs, aircraft parts, and high-tech machinery without owning transportation assets. It provides next-flight-out, dedicated road express, dangerous goods, international, onboard courier, and charter air services, serving customers including LabCorp, Alaska Airlines, Quest Diagnostics, and the American Red Cross. The company leverages software for optimal routing and transparency in expedited deliveries, focusing on healthcare, high-tech/semiconductor, and aerospace industries. In early 2021, Airspace closed a $38 million Series C funding round, led by Telstra Ventures with co-lead HarbourVest Partners, and participation from Defy Partners (Series A lead), Scale Venture Partners (Series B lead), Qualcomm Ventures, Prologis Ventures, and Titanium Ventures. This brought total funding to over $70 million across three rounds since founding in 2016. Airspace demonstrated strong traction with over 200 customers relying on it for North American and European shipments, contributing to saving over 100,000 lives via organ deliveries. The funding enabled global network expansion of drivers and service offerings amid rising demand for time-critical logistics, estimated at $20 billion market pre-2020, boosted by the pandemic for medical supplies and critical goods. |
| Nov 2018 | Series B | Scale Venture Partners (lead); Qualcomm Ventures; MaC Venture Capital; Schematic Ventures; Defy.vc | $20M | $100M | Airspace Technologies, based in Carlsbad, California, provides a digital operating platform for air cargo and time-critical delivery services, offering automated quotes, routing, real-time notifications, and connections to independent delivery personnel for critical shipments like human organs or aircraft parts. Customers include LabCorp, FedEx Corp., and Frontier Airlines, with over 100 customers reported at the time. The company raised $20 million in a Series B funding round on November 15, 2018, led by Scale Venture Partners, with participation from existing investors Defy.vc, MaC Venture Capital (noted as Cross Culture Ventures in some sources), Qualcomm Ventures, and Schematic Ventures. Plans included hiring 120 workers in 2019 focused on sales, engineering, and operations to support global expansion and next-generation platform development. |
| Aug 2018 | Series A | Defy.vc (lead); Qualcomm Ventures; MaC Venture Capital; Schematic Ventures | $8M | - | Airspace Technologies raised $8 million in an Series A funding round on August 13, 2018, led by Defy.vc with participation from Qualcomm Ventures, Cross Culture Ventures, and Schematic Ventures. The company provides technology-enabled time-definite logistics services, focusing on real-time transparency for mission-critical shipments in the $40 billion time-definite logistics industry. Funds were allocated to develop its next-generation delivery network and proprietary software platform to serve Fortune 500 customers. Airspace Technologies, based in Carlsbad, California, was co-founded by Nick Bulcao, who has prior experience building logistics companies. The platform offers automated quoting, routing, real-time notifications, and connects businesses directly with drivers for faster delivery and cost reduction. Subsequent rounds included a $20 million Series B in 2019 led by Scale Venture Partners with the same early investors participating, aimed at global expansion and hiring 120 team members. |
Who has invested in Airspace?
9 investors have backed Airspace across its funding rounds, including Qualcomm Ventures, Defy.vc, Scale Venture Partners, MaC Venture Capital, Titanium Ventures and HarbourVest Partners.
Lead investors include DBL Partners, HarbourVest Partners, Titanium Ventures, Scale Venture Partners and Defy.vc.
Airspace Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Diego, CA | 4 | Participant | Aug 2018 | |
| San Francisco, CA | 4 | Lead | Aug 2018 | |
| San Francisco, CA | 3 | Lead | Nov 2018 | |
| Abilene, TX | 2 | Participant | Aug 2018 | |
| United States | 2 | Lead | Jan 2021 | |
| San Francisco, CA | 2 | Participant | Jan 2021 | |
| San Francisco, CA | 2 | Participant | Aug 2018 | |
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Start Free TrialAirspace Competitors
Airspace competitors include listed companies like Logory and Ryde Group, and private ones like Kargo Technologies, Ofload, Loadshare Networks and yellooboard.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Jakarta | Private | - | - | $100M | - | |
 Sydney | Private | $52M | - | $71M | 1.4x | |
 Bangalore | Private | $39M | - | $162M | 4.2x | |
| India | Private | - | - | $60M | - | |
 China | Publicly listed | $676M | $11M | $53M | - | |
 Singapore | Publicly listed | $10M | ($13M) | $126M | - |
Airspace Public Comps
Airspace is still privately-owned, but its public comps include Kingwaytek Technology, Logistic Properties of the Americas, Andino Investment Holding, EROAD, Sequoia Logistica, Proficient Auto Logistics, Air T, PKP Cargo, Microlise and SmartDrive.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $17M | $4M | 4.7x | - | 20.9x | - | |||
| $50M | $46M | 9.3x | 8.9x | 10.1x | 16.1x | |||
| $164M | $36M | 1.6x | - | 7.3x | - | |||
| $107M | ($62M) | 1.1x | 1.1x | (2.0x) | 4.7x | |||
| $115M | $17M | 1.2x | - | 8.6x | - | |||
| $430M | $3M | 0.4x | 0.4x | 72.3x | 4.4x | |||
| $327M | $110M | 1.1x | - | 3.1x | - | |||
| $1B | $148M | 0.7x | 0.6x | 4.7x | 5.8x | |||
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Common questions about Airspace
| When was Airspace founded? | Airspace was founded in 2016. |
| Where is Airspace headquartered? | Airspace is headquartered in San Diego, CA, United States. |
| Is Airspace publicly listed? | No, Airspace is a private, VC-backed company. |
| What is Airspace's valuation? | Airspace was last valued at $100M in its Series B in November 2018. |
| How much funding has Airspace raised? | Airspace has raised $136M across 4 funding rounds. |
| What was Airspace's last funding round? | Airspace's last funding round was a $70M Series D in May 2022, led by DBL Partners, HarbourVest Partners and Titanium Ventures. |
| Who are Airspace's investors? | Airspace's investors include Qualcomm Ventures, Defy.vc, Scale Venture Partners, MaC Venture Capital, Titanium Ventures, Prologis Ventures, Schematic Ventures, HarbourVest Partners and DBL Partners. |
| Which companies are comparable to Airspace? | Companies comparable to Airspace include Kargo Technologies, Ofload, Loadshare Networks, yellooboard, Logory and Ryde Group. |
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