Trinity Capital Inc. Provides $20 Million in Growth Capital to Steno
PHOENIX, Dec. 5, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ:TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $20 million in growth capital to Steno, a tech-enabled provider of legal support and court reporting services.
Steno provides tech-based tools and solutions meant to streamline the litigation process, including court-reporting services, remote deposition software, deferred payment options, and custom legal technology. Founded by a trial attorney, a computer engineer, and an entrepreneur, Steno aims to help attorneys overcome the technological and financial hurdles of existing legal processes.
"Steno's comprehensive product suite and bespoke solutions are aimed at modernizing the legal industry, striving to making the litigation process simpler and more efficient for attorneys," said Bob D'Acquisto, Managing Director, Tech Lending at Trinity. "We are proud to partner with Steno as the company expands its reach and enhances its product offerings."
This new growth capital formed part of Steno's $46 million fundraise in May of 2024, and will enable Steno to continue scaling its business.
"We're thrilled to partner with Trinity Capital to fuel our next phase of growth," said Steno CEO Greg Hong. "With their investment, we'll continue to push the boundaries of innovation and deliver cutting-edge solutions like Transcript Genius. Building on our 119% year-over-year growth, we're excited about the future."
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 Steno
Founded on the simple idea that deposition services shouldn't be an obstacle when trying to win a case, Steno is at the forefront of the court reporting and legal technology industries. Steno focuses on providing attorneys with innovative tools and options that overcome the technological and financial hurdles that arise when proving a case. As a partner in the pursuit of justice, Steno understands the unique challenges faced by legal professionals and is committed to delivering practical, impactful solutions.
To learn more about Steno or to request information about its services, visit www.steno.com.
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SOURCE Trinity Capital Inc.