Trinity Capital, a leading alternative asset manager, 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.
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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.
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“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 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.
