Valor Global, an outsourced customer care company in Phoenix, told the Business Journal that it had recently completed its first ever capital raise with Los Angeles-based Gallant Capital Partners LLC and it plans to hire 1,000 new employees in the Valley as a result.
With more than 2,700 employees worldwide and more than $91 million in revenue in 2019, Valor Global ranked as the largest Phoenix-area minority owned business last year. The company is run by Simer Mayo and owned by his wife Vicki, who have several other businesses in the Valley.
“Gallant is the ideal partner for Valor as we enter into the next phase of our growth,” Simer Mayo said in a statement. “As a family-owned and operated business since 2004, it was important for us to find a partner who shared our core values and our deep commitment to customer service and employee development. Gallant’s operational capabilities and expertise in strategic acquisitions make them the perfect partner as we elevate Valor to the next level. We could not be more excited about this partnership and what it will mean for our customers, employees and community.”
Gallant Capital Partners, founded in 2018, closed its inaugural fund, Gallant Capital Partners I LP in mid-2020 with $378 million in total commitments and was oversubscribed, exceeding its target of $300 million. The fund typically targets mid-market companies for investment. Valor Global declined to disclose the funding amount.
Valor Global said the funding would spur additional growth for the company and allow it to hire a projected 1,000 new employees in the next year, all of which will be based in the Valley. These new employees will be a combination of both customer service reps and managerial roles.
MIND 24-7 raises $20M
MIND 24-7, a behavioral health provider based in Phoenix, said it has raised $20 million to open five service facilities in the next 18 months.
MIND 24-7 was founded in October 2020 and it focuses on serving patients during mental health crises and operating urgent care service centers. The company said the first facility is slated to open in central Phoenix this September, but the company said it wasn’t prepared to share the location publicly yet.
“This funding enables MIND 24-7 to establish a true front door to the mental health care system for our communities,” MIND 24-7 CEO Jeff Spight said in a statement. “There is finally a simple answer on where to go when someone is feeling vulnerable and helpless. We will operate centers open 24 hours a day, seven days a week that will accept and help every single person who comes through the door no matter what health coverage they have, their level of clinical need, their age or their socio-economic status. Our goal is to address one of the more critical gaps in our health care delivery system.”
The company plans to offer three levels of care, from the shorter “express” visits lasting two hours to longer term treatment programs for people with more extensive needs.
The first three facilities are expected to be built in Arizona, but the remaining two will open in either Texas, Florida or West Virginia, according to a company spokesperson.
The MIND 24-7 executive team consists of CEO Spight, chief growth and innovation office Nicole Bradberry and COO Adrienne Opalka.
