PHOENIX, May 15, 2024
/PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN)
("Trinity"), a leading provider of diversified financial solutions
to growth-stage companies, today announced the commitment of
$25 million in growth capital to
Elevate K-12 ("Elevate"), a Chicago-based company that
provides high-quality synchronous LIVE teaching for K-12
classrooms in the United
States.
Elevate delivers high-quality LIVE teaching to K-12 classrooms
from state-certified and qualified teachers to solve the
challenges caused by teacher vacancies across the country. The
company was featured in Time and Statista's list of the top 250
EdTech companies and was recently recognized as one of Forbes'
America's Best Startup Employers for 2024.
"We are excited to be part of the Elevate K-12 journey," said
Kevin Zeidan, Managing Director,
Tech Lending at Trinity. "Their commitment to providing
high-quality, live instruction to underserved schools across the
country is essential, and we look forward to the company's
continued expansion and growth."
This new growth capital will enable Elevate to increase working
capital, scale operations, and fund growth initiatives.
"Elevate is boldly creating the new category of LIVE teaching to
ensure all children receive a remarkable education, because that is
what they deserve," said Shaily
Baranwal, CEO and Founder of Elevate. "This capital enables
us to accelerate our ability to serve the needs of schools,
districts, students, and teachers."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed
business development company, is a leading provider of diversified
financial solutions to growth-stage companies with institutional
equity investors. Trinity Capital's investment objective is to
generate current income and, to a lesser extent, capital
appreciation through investments, including term loans and
equipment financings and equity-related investments. Trinity
Capital believes it is one of only a select group of specialty
lenders that has the depth of knowledge, experience and track
record in lending to growth stage companies. For more information,
please visit the Company's website at www.trinitycap.com.
About Elevate K-12
Elevate K-12 is a Chicago-based
instructional services company that brings remarkable LIVE teaching
to K-12 classrooms across the U.S. Schools and districts partner
with Elevate K-12 to provide effective and engaging teaching to
their students in any classroom, especially in hard-to-staff
subjects. Its tech-enabled service was built for K-12 education and
is powered by certified, qualified teachers using state-aligned
curriculums. Elevate K-12 is rapidly expanding throughout the U.S.,
providing equity in education nationwide. For more information,
visit elevatek12.com and follow us on LinkedIn.
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SOURCE Trinity Capital Inc.