Trinity Capital Inc. Provides $40 Million in Growth Capital to Gravie

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Jun 25, 2024, 07:30 ET

PHOENIX, June 25, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced a commitment of $40 million debt facility to Gravie, one of the nation's fastest growing health benefits innovators.

Gravie offers self-funded health plans, called Comfort®, for small and mid-size employers. Comfort provides comprehensive coverage with no deductibles or copays on the most common healthcare services, including virtual care. Gravie aims to simplify healthcare by offering straightforward plans and providing additional benefits like interest-free payment options.

"Gravie's innovative approach to health benefits can help small and mid-sized businesses provide quality, affordable coverage to their employees," said Ryan Thompson, Managing Director, Tech Lending at Trinity Capital. "We're excited to partner with Gravie as they continue scaling their Comfort health plan model nationwide."

"We are excited to partner with the Trinity team as we grow our business and seek to make health benefits plans work for everyone," said Charles Marentette, Chief Financial Officer of Gravie.

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 Gravie

Gravie has been and continues to be at the forefront of driving change and improving the healthcare industry by creating innovative employer-sponsored health benefit solutions that put consumers first. Comfort®, Gravie's flagship product, is the nation's first-of-its-kind health plan that provides first-dollar, 100% coverage on most common healthcare services, at a cost comparable to traditional group health plans. Learn more about Gravie at www.gravie.com.

Media Contact
Vibhor Garg
Managing Director, Marketing
Trinity Capital, Inc.
[email protected]

SOURCE Trinity Capital Inc.