Blade, the short-distance aviation company, has raised $38 million in a new round of financing led by investors Colony NorthStar and Lerer Hippeau.

Airbus Helicopters and LionTree Ventures also participated in the round, which sources said increased the 4-year-old company’s valuation to $150 million.

Blade, founded by former Sony executive Rob Wiesenthal, plans to use the proceeds to deepen its schedule of flights in its 22 core routes, accelerate its entry into new markets and strengthen the brand name.

The company doesn’t own the helicopters that serve as its primary transportation vehicle but contracts for their use from local fleets.

In serving the short-distance market, Blade said more than 75 percent of its first-time passengers had never before flown in a helicopter.