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Row 44 Raises New Funding

Westlake Village-based Row 44, provider of satellite-based in-flight Wi-Fi systems, has raised $27.8 million as part of a larger $60 million offering, according to a recent filing with the U.S. Securities Exchange Commission. The company sold $11.3 million in equity for cash and converted approximately $16.5 million in bridge debt into equity. Row 44 has the right to sell an additional $32.25 million for cash, according to the SEC filing. Row 44 expects to use proceeds for general working capital, including payment to its network services provider for satellite transponder space. A total of nine investors have invested in the offering. Row 44, which has worked with companies such as Alaska Airlines and Southwest Airlines, raised a $21 million round of venture capital in 2008. PAR Capital Management led that round of funding. Eric Billingsley

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