PHOENIX, Jan. 16,
2025 /PRNewswire/ -- Trinity Capital
Inc. (NASDAQ: TRIN) ("Trinity"), a leading alternative asset
manager, today announced the commitment of $12.5 million in growth capital to Upward Health,
an in-home, multidisciplinary medical group providing 24/7
whole-person care.
The company partners with health plans and other risk-bearing
entities to address the unique needs of high-risk, high-need
patients, delivering care that aims to improve health outcomes and
quality of life. Upward Health was ranked number 7 on the 2023 Inc.
5000 list of the fastest-growing private companies in the United States, and number 6 on the 2024
list.
"Upward Health's unique approach to healthcare delivery has
positioned them as a leader in their space," said Bob D'Acquisto,
Managing Director, Tech Lending at Trinity. "We're excited to
provide the capital they need to continue to grow their business
and amplify their impact."
The $12.5 million debt financing
from Trinity is part of a larger debt financing, including an
additional $7.5 million from Comerica
Bank. The debt was raised in conjunction with the company's Series
C fundraise, led by Heritage Group and Blue Venture Fund, with
additional investments from Noro-Moseley Partners and others. The
capital will be used to fund growth initiatives.
"We're excited to partner with Trinity Capital as we enter this
next phase of growth," said Glen
Moller, CEO of Upward Health. "Trinity's support will be
instrumental as we expand our coverage area, refine our care model,
and ultimately, improve the quality of life for more patients
across the country."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international
alternative asset manager, aiming to provide investors with stable
and consistent returns through access to the private credit market.
We source, vet, and invest in dynamic privately funded
growth-oriented companies, giving our investors access to a strong
and diversified portfolio. With distinct business verticals,
Trinity Capital stands as a trusted partner for innovative
companies seeking tailored growth capital solutions. Headquartered
in Phoenix, Arizona, the firm has
an international footprint, supported by a dedicated team of
strategically located investment professionals. For more
information, visit the company's website at
trinitycapital.com and stay connected by following us on
LinkedIn and X (formerly Twitter).
About Upward Health
Upward Health is an in-home multidisciplinary provider that
partners with health plans and other risk-bearing entities to
address the unique needs of the most high-risk, high-need users of
the healthcare system today. Using a unique, in-home
community-based approach to meeting a patient's needs, Upward
Health facilitates and delivers care that improves outcomes and the
quality of life for every patient it serves. Upward Health has a
measured Net Promoter Score of 86, among the highest in the
healthcare industry.
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SOURCE Trinity Capital Inc.
