#USA #Phoenix #Legal Technology #Trinity Capital #Steno

Trinity Capital Inc. Invests in Steno: A New Chapter in Legal Technology

In an exciting development for the legal technology landscape, Trinity Capital Inc. (NASDAQ: TRIN) has announced a significant commitment of $20 million in growth capital to Steno. This investment aims not only to support Steno's ambitious expansion plans but also to pave the way for innovative advancements in legal support services and court reporting.

About Steno

Founded by a group of dedicated professionals, including a trial attorney, a computer engineer, and an entrepreneur, Steno emerged with a clear vision: to alleviate the challenges attorneys face in the existing legal process. Steno's suite of technology-driven solutions is designed to streamline every part of the litigation process, offering services like remote deposition software, court-reporting services, and customizable legal technology options. This cloud-based approach allows for more flexibility and efficiency, which helps attorney’s focus on their core work—winning cases.

According to Greg Hong, CEO of Steno, “With their investment, we're excited to drive forward our innovative agendas like Transcript Genius, further solidifying our place as industry leaders.” Steno emphasizes a unique understanding of the obstacles legal professionals encounter and is unwavering in its commitment to provide practical solutions that resonate with the needs of modern attorneys.

Trinity Capital’s Role

Bob D'Acquisto, Managing Director of Tech Lending at Trinity Capital, expressed confidence in Steno's mission, stating, “Steno is on a path to modernize the legal industry with its comprehensive product suite and bespoke solutions. We are proud to partner with them as they enhance their offerings and expand their reach.” Trinity Capital, known for providing diversified financial solutions to growth-oriented companies, recognizes the critical role that technology plays in today’s legal sector.

This partnership follows Steno’s successful $46 million fundraising round in May 2024, which coincides with reports of the company experiencing a remarkable 119% year-over-year growth. With this new capital injection, Steno is well-positioned to accelerate its growth and refine its innovative offerings to meet the needs of a rapidly evolving market.

Looking Ahead

As the legal landscape continues to evolve, the demand for advanced technology and services will likely grow. Steno's commitment to innovation aligns with this trend, offering a suite of solutions designed specifically for the complexities of today’s legal processes. This investment from Trinity Capital not only serves to bolster Steno's capabilities but also signifies a broader recognition of the importance of integrating technology within the legal framework.

In this new chapter for both companies, the focus remains on providing invaluable support to legal professionals and streamlining the litigation process, ultimately ensuring that justice is served more efficiently. If Steno continues to harness its technological prowess effectively, the impact on the legal industry could be transformative.

To stay updated with Steno’s developments or to explore their services, potential clients can visit their website at Steno.com. Similarly, more information about Trinity Capital’s investment strategies and services is available at TrinityCap.com.

Together, Trinity Capital and Steno are poised to redefine the standards of legal support services, one innovation at a time.