ATLANTA--(BUSINESS WIRE)--Trella Health, a leading source of healthcare growth insights and performance analytics data, today announced it closed a significant funding round. The investment was led by Cressey & Company LP, a private investment firm focused on building leading healthcare services and technology businesses, with participation from the company’s current lead investor, Panoramic Ventures (previously BIP Capital). The funding will allow Trella to continue advancing its product and data capabilities to support a wide range of healthcare providers as they transition to value-based care.
Backed by two investors with more than $2 billion in capital, Trella is a platform investment for Cressey and Panoramic. With this significant cash infusion, Trella is looking to make waves toward delivering on its mission to empower meaningful change in healthcare through performance transparency.
“We’re thrilled to partner with Trella. They have built an exceptional company that sits at the intersection of healthcare’s transition to value-based care and the industry’s need for actionable data to improve quality and outcomes,” shared Dave Rogero, Partner at Cressey. “We look forward to working with Trella and Panoramic to accelerate Trella’s expansion plans across new products, end markets, strategic acquisitions and partnerships.”
Founded in 2015, Trella provides healthcare organizations market intelligence for growth and performance improvement. The company is experiencing significant growth, having doubled its annual recurring revenue and increased its team by 40% since early 2020. Its success is largely driven by the advancement of value-based care and organizations leveraging Trella’s industry-leading data to compete effectively and partner efficiently across the continuum of care.
“It’s really exciting for us to attract and partner with one of the leading healthcare investors in the country. And it’s a true testament to the significant impact we’re making in the healthcare industry and for the customers we serve,” stated J. Scott Tapp, President and CEO for Trella. “This is a huge milestone in the accelerated growth of our business. It will enable us to further invest in our innovative products, strategic acquisitions, data capabilities and our amazing team that allows us to bring actionable insights to more healthcare organizations.”
“It has been fantastic to watch Trella thrive, especially given the tumultuous market conditions over the past year and a half,” said Panoramic Managing Partner Mark Buffington. “We are proud to expand our partnership and further support Trella’s ability to empower meaningful change in healthcare through performance visibility.”
Company Aims to Nearly Double in Size
Trella is hiring across several positions and job levels to support its rapid growth. With a goal to nearly double its size by the end of 2022, the company is seeking candidates from mid-management to entry-level in its Atlanta and Philadelphia offices, as well as remote opportunities. For a complete list of available positions, visit https://www.trellahealth.com/careers.
Brentwood Capital Advisors LLC served as financial advisor and Nelson Mullins Riley & Scarborough LLP served as legal counsel to Trella during the funding round.
About Trella Health
Trella Health provides unmatched, actionable market intelligence to DCEs, ACOs, healthcare networks, and post-acute care providers of all sizes. As one of only a few companies to be deemed both a Qualified Entity by CMS and an Innovator under its Virtual Research Data Center Program, Trella has elite access to billions of performance, referral, and competitive data points across the market and patient care settings. Its standardized insights, representing 90% of the 65+ U.S. population, help customers identify, engage, and manage critical relationships and advance their organizations with confidence.
About Cressey & Company LP
Based in Chicago, Illinois and Nashville, Tennessee, Cressey & Company LP is a private investment firm focused on building leading healthcare services and information technology businesses. With a history spanning 40 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, visit www.cresseyco.com.
About Panoramic Ventures
Panoramic Ventures is a venture capital firm based in Atlanta that takes a "wider-view" approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.