Trinity Capital Inc. Provides $30 Million in Growth Capital to Silk Technologies Inc.
Rhea-AI Summary
Trinity Capital (NASDAQ: TRIN) has announced a $30 million growth capital commitment to Silk Technologies, a software-defined cloud storage provider. Silk's platform specializes in enhancing cloud applications and databases performance while optimizing cloud resource usage and data management costs.
The company has demonstrated significant growth, doubling its revenue over the past two years through new customer acquisitions. The funding will support Silk's operational scaling and growth initiatives, particularly as AI drives increased demand for data processing capabilities. The company's solutions target various sectors including finance, healthcare, insurance, and retail industries.
Positive
- Committed $30 million in growth capital to expand operations
- Revenue doubled over the past two years
- Growing customer base in multiple industry sectors
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TRIN gained 0.96%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Silk is a software-defined cloud storage provider focused on enhancing the performance and efficiency of cloud applications and databases. Silk's platform provides high throughput and low latency, helping organizations to run their business-critical applications in the public cloud while continuously minimizing cloud resource requirements and the cost of managing data.
"With AI transforming how enterprises manage and consume data, Silk's cloud storage solutions are timely and necessary," said Jack McNamara, Director Tech Lending at Trinity Capital. "We're excited to provide Silk with this capital to capture the growth opportunities across the finance, healthcare, insurance, and retail industries."
Silk continues to onboard new customers, resulting in a twofold increase in revenue over the past two years. This growth capital will enable Silk to continue to scale operations and fund growth initiatives.
"The partnership with Trinity Capital will help to ensure our cloud storage solutions continue to meet the evolving data demands of enterprises," said Dani Golan, Founder & CEO of Silk. "AI is driving the need to process exponentially more data, and the Silk platform is well positioned to deliver the performance AI requires at a fraction of the cost."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in
About Silk
Silk enables organizations to migrate and run their most complex business-critical applications in the public cloud while continuously optimizing performance, reliability, and costs. As the demand for data and AI grow exponentially, Silk's software-defined cloud storage enables enterprises to confidently transform to a cloud-first business.
Silk leverages over 20 technology patents so customers can effortlessly unlock the full potential of the public cloud in a fraction of the time. Silk is headquartered outside of
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SOURCE Trinity Capital Inc.
FAQ
How much growth capital did Trinity Capital (TRIN) commit to Silk Technologies in January 2025?
What was Silk Technologies' revenue growth rate according to Trinity Capital's announcement?
What industries will Silk Technologies target with Trinity Capital's (TRIN) funding?
How will Silk Technologies use the $30 million investment from Trinity Capital (TRIN)?
