Trinity Capital Inc. Provides $20 Million in Growth Capital to Steno
Trinity Capital (NASDAQ: TRIN) has committed $20 million in growth capital to Steno, a tech-enabled legal support and court reporting services provider. The funding is part of Steno's larger $46 million fundraise in May 2024. Steno offers tech-based solutions to streamline litigation processes, including court-reporting services, remote deposition software, and deferred payment options.
Founded by a trial attorney, computer engineer, and entrepreneur, Steno has demonstrated strong performance with 119% year-over-year growth. The company plans to use the capital to scale its business and enhance product offerings, including solutions like Transcript Genius.
Trinity Capital (NASDAQ: TRIN) ha impegnato 20 milioni di dollari in capitale di crescita per Steno, un fornitore di servizi di supporto legale e di registrazione in aula abilitato dalla tecnologia. Il finanziamento è parte di una raccolta fondi più ampia di 46 milioni di dollari da parte di Steno, avvenuta nel maggio 2024. Steno offre soluzioni basate sulla tecnologia per semplificare i processi di contenzioso, tra cui servizi di registrazione in aula, software per deposizioni a distanza e opzioni di pagamento dilazionato.
Fondata da un avvocato esperto in cause, un ingegnere informatico e un imprenditore, Steno ha dimostrato una forte performance con una crescita del 119% anno su anno. L'azienda prevede di utilizzare il capitale per scalare il proprio business e migliorare la gamma di prodotti, incluse soluzioni come Transcript Genius.
Trinity Capital (NASDAQ: TRIN) ha comprometido 20 millones de dólares en capital de crecimiento para Steno, un proveedor de servicios de apoyo legal y de informes judiciales habilitado por la tecnología. Esta financiación es parte de una recaudación de fondos más grande de 46 millones de dólares por parte de Steno, realizada en mayo de 2024. Steno ofrece soluciones basadas en tecnología para agilizar los procesos de litigo, incluyendo servicios de informes judiciales, software de deposición remota y opciones de pago diferido.
Fundada por un abogado de juicio, un ingeniero informático y un empresario, Steno ha demostrado un sólido rendimiento con un crecimiento del 119% en comparación con el año anterior. La empresa planea utilizar el capital para escalar su negocio y mejorar su oferta de productos, incluyendo soluciones como Transcript Genius.
트리니티 캐피탈 (NASDAQ: TRIN)은 스테노에 2천만 달러의 성장 자본을 투자하기로 약속했습니다. 스테노는 기술 기반의 법률 지원 및 법원 보고 서비스 제공업체입니다. 이 자금은 2024년 5월에 스테노가 모금한 4천6백만 달러의 더 큰 자금 조달의 일부입니다. 스테노는 법원 보고 서비스, 원격 심문 소프트웨어 및 연기된 지불 옵션을 포함하여 소송 프로세스를 간소화하는 기술 기반 솔루션을 제공합니다.
재판 변호사, 컴퓨터 엔지니어, 기업가에 의해 설립된 스테노는 전년 대비 119%의 성장률을 기록하며 강력한 성과를 보여주었습니다. 이 회사는 자본을 사용하여 비즈니스를 확장하고 Transcript Genius와 같은 솔루션을 포함한 제품 제공을 향상시킬 계획입니다.
Trinity Capital (NASDAQ: TRIN) s'est engagé à investir 20 millions de dollars en capital de croissance dans Steno, un fournisseur de services de soutien juridique et de rédaction judiciaire habilité par la technologie. Ce financement fait partie d'un plus grand tour de financement de 46 millions de dollars réalisé par Steno en mai 2024. Steno propose des solutions basées sur la technologie pour simplifier les processus de litige, y compris des services de rédaction judiciaire, un logiciel de déposition à distance et des options de paiement différé.
Fondée par un avocat en droit, un ingénieur informatique et un entrepreneur, Steno a montré une forte performance avec une croissance de 119 % d'une année sur l'autre. La société prévoit d'utiliser ce capital pour développer son activité et améliorer son offre de produits, y compris des solutions telles que Transcript Genius.
Trinity Capital (NASDAQ: TRIN) hat 20 Millionen Dollar an Wachstumskapital für Steno bereitgestellt, einen technologiegestützten Anbieter von Rechtsdienstleistungen und Gerichtserstattungsdiensten. Die Finanzierung ist Teil einer größeren Mittelbeschaffung von 46 Millionen Dollar durch Steno im Mai 2024. Steno bietet technologiebasierte Lösungen zur Optimierung von Gerichtsverfahren, einschließlich Gerichtserstattungsdienste, Fernvernehmungssoftware und Optionen für aufgeschobene Zahlungen.
Gegründet von einem Prozessanwalt, einem Computer-Ingenieur und einem Unternehmer, hat Steno eine starke Leistung mit einem Wachstum von 119 % im Vergleich zum Vorjahr gezeigt. Das Unternehmen plant, das Kapital zu nutzen, um sein Geschäft auszubauen und sein Produktangebot zu verbessern, einschließlich Lösungen wie Transcript Genius.
- 119% year-over-year growth reported
- Secured $20 million as part of a larger $46 million fundraise
- None.
Insights
The
For Trinity Capital (TRIN), a BDC with a market cap of
Steno represents an emerging player in the legal tech transformation space, focusing on critical pain points in litigation processes. Their multi-faceted approach combining court reporting services, remote deposition software and deferred payment options addresses key inefficiencies in legal operations. The integration of AI through products like Transcript Genius indicates strong technological differentiation.
The substantial growth rate and successful fundraising round suggest strong market validation and execution. The legal tech sector presents significant opportunities, with traditional legal processes ripe for technological disruption. Steno's founding team's diverse background spanning legal, engineering and entrepreneurship positions them well to capitalize on this market opportunity.
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
"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
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.
FAQ
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