About MySky

MySky provides an AI-powered spend management platform specifically designed for the private aviation industry, utilizing a comprehensive cost database to automate expense processing and budget creation. This technology enables operators to accurately predict flight costs, optimize spending, and enhance financial compliance, ultimately reducing operational costs and improving profitability.

```xml <problem> Private aviation companies face challenges in accurately predicting flight costs, managing expenses, and ensuring financial compliance due to the complexity of the industry and a lack of specialized tools. Traditional methods of expense processing and budget creation are often manual, time-consuming, and prone to errors, leading to increased operational costs and reduced profitability. </problem> <solution> MySky offers an AI-powered spend management platform tailored for the business aviation sector, providing solutions for buyers, owners, management companies, and flight departments. The platform leverages a comprehensive cost database and proprietary AI to automate expense processing, budget creation, and tax reporting. MySky enables users to accurately predict flight costs, optimize spending through benchmarking, and enhance financial compliance, ultimately reducing operational costs and improving profitability. The platform's modules include tools for quoting, budgeting, spend management, and tax compliance, addressing key financial challenges in the industry. </solution> <features> - AI-powered flight cost prediction using a verified cost database - Automated expense capture and processing using OCR technology - Customizable budget creation for any aircraft, providing detailed utilization information - Spend benchmarking to optimize costs and ensure financial transparency - Tax reporting tools for SIFL, disallowance, Federal Excise Tax, timeshare agreements, and SEC Proxy Reporting - Integration with third-party data sources for comprehensive market analysis </features> <target_audience> MySky primarily serves aircraft owners, aircraft management companies, charter departments, and flight departments within the private aviation industry. </target_audience> ```

What does MySky do?

Where is MySky located?

MySky is based in Hoboken, United States.

When was MySky founded?

MySky was founded in 2015.

How much funding has MySky raised?

MySky has raised 7710000.

Location

Hoboken, United States

Founded

2015

Funding

7710000

Employees

90 employees

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MySky

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Executive Summary

mysky.com 2K+

Crunchbase

Founded 2015 – Hoboken, United States

Funding

Estimated Funding

$5M+

Team (75+)

No team information available.

Company Description

Problem

Private aviation companies face challenges in accurately predicting flight costs, managing expenses, and ensuring financial compliance due to the complexity of the industry and a lack of specialized tools. Traditional methods of expense processing and budget creation are often manual, time-consuming, and prone to errors, leading to increased operational costs and reduced profitability.

Solution

MySky offers an AI-powered spend management platform tailored for the business aviation sector, providing solutions for buyers, owners, management companies, and flight departments. The platform leverages a comprehensive cost database and proprietary AI to automate expense processing, budget creation, and tax reporting. MySky enables users to accurately predict flight costs, optimize spending through benchmarking, and enhance financial compliance, ultimately reducing operational costs and improving profitability. The platform's modules include tools for quoting, budgeting, spend management, and tax compliance, addressing key financial challenges in the industry.

Features

AI-powered flight cost prediction using a verified cost database

Automated expense capture and processing using OCR technology

Customizable budget creation for any aircraft, providing detailed utilization information

Spend benchmarking to optimize costs and ensure financial transparency

Tax reporting tools for SIFL, disallowance, Federal Excise Tax, timeshare agreements, and SEC Proxy Reporting

Integration with third-party data sources for comprehensive market analysis

Target Audience

MySky primarily serves aircraft owners, aircraft management companies, charter departments, and flight departments within the private aviation industry.