Trinity Capital, an alternative asset manager, committed $12.5 million in growth capital to Upward Health, an in-home, multidisciplinary medical group providing 24/7 whole-person care.
“Upward Health’s unique approach to healthcare delivery has positioned them as a leader in their space,” Bob D’Acquisto, managing director, tech lending at Trinity, said. “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,” Glen Moller, CEO of Upward Health, said. “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.”
