#5 Private Company to Watch: Tuvoli | tuvoli.com
Three-Year Avg. Annual Growth: 125%
Founded: 2019
Headquarters: 79 Perimeter Road, Nashua
CEO: Greg Johnson
Total Number of Employees: 26
Product/Service: Sales management and payment software for the private jet charter industry
As a veteran of the private aviation industry, Greg Johnson knew just how unwieldy it could be to charter a private jet. You’d contact a charter broker, get a quote by email, sign a PDF contract, provide a credit card number for a hold and then, to avoid a hefty credit-card fee, make the actual payment by wire transfer.
He figured there would be a market for a platform that streamlined the booking and payment process, benefitting both customers, and charter brokers and operators.
Nashua-based Tuvoli has grown “exponentially,” averaging 125% revenue growth over the past three years and landing on Inc.’s most recent list of the 5,000 fastest-growing private companies in the U.S. It now processes around $900 million worth of charter bookings a year.
Johnson attributes the company’s rapid growth to finding a niche that no one else had focused on.
“Traditional payment companies have liked as many small transactions as they can get,” he explains. “Millions of transactions for low dollars is sort of the sweet spot that all of the PayPals of the world are trying to play in. And when they see very-large-dollar transactions, and a much smaller number of them, they get concerned from a risk management standpoint.”
But Johnson, a former CTO at FlexJet, could lean on his two decades of industry experience. “When you know the players, and you know the good ones and the bad ones, the risk is really very manageable,” he says. “So, we made it a point to focus on these large-dollar-value transactions and how to make them much easier.”
Johnson expects Tuvoli to grow “substantially” next year, projecting that the platform will facilitate $2 billion in transactions in 2026 as more charter brokers and operators join. Early next year, the company is rolling out a new, AI-backed product that will help charter operators price their flights more quickly.
Johnson says the company could add as many as 10 to 15 new employees to its workforce of 26 by the end of next year.
