Foley Represents Ballast Point in $10.7M Series A Raise for Uplift

Foley & Lardner LLP served as legal adviser to Ballast Point Ventures (Ballast Point), a late-stage venture capital and growth equity fund, in its investment in the $10.7 million Series A financing for UpLift, the technology-driven, omnichannel behavioral health provider.

Ballast Point, which has raised $550 million across four funds, provides expansion capital to established but rapidly growing private companies located primarily in the Southeast and Texas. Ballast Point joined Kapor Capital and Front Porch Ventures as well as existing investors, including B Capital, in this round. The latest raise takes UpLift’s total funding to over $22 million.

This new funding will further expand access to UpLift’s team-based behavioral healthcare model, enabling thousands of behavioral healthcare providers to accept insurance payments for the first time and help patients match with the right team of providers, based on their unique clinical and non-clinical needs. The company will also use its Series A funding to expand into additional states. UpLift currently serves patients in Washington, D.C., Florida, Maryland, New Jersey, and Virginia.

The Foley deal team was led by partner Steven Vazquez and included partner Rachel Goodman and associates Kristen Murphy and Cayman Weimer.