TRICAST, investment firms launch growth-equity financing partnership
"This is an exciting next step in the evolution of TRICAST," TRICAST CEO Greg Rucinski said. "The support of our investors will enable us to increase our pace of growth, accelerate our Reveal development efforts and devote more resources to providing an outstanding customer experience."
Brook Venture Partners is focused on profitable companies in the information technology (IT), IT-enabled service and health care IT sectors, where additional management, sales, marketing and financial infrastructure, in addition to capital, can accelerate growth.
Blue Heron Capital is an operationally focused, lower-market private equity firm that supports portfolio companies with a team of industry experts, including C-level executives and successful entrepreneurs.
TRICAST plans to create a board of directors from industry experts around the country who will be in charge of providing guidance and general oversight of the company's activities.
“One of our primary areas of focus is health care IT, and TRICAST's blend of pharmacy-benefits industry expertise and pioneering technology is one of the more creative and exciting opportunities we've encountered," Fred Morris, a partner at Brook Venture, said.
The owners and founders of TRICAST will continue to hold a majority interest in the company.
"We are really excited about our long-term business plan -- now we can execute it," Rucinski said.