Horizon Technology Finance Corporation has closed a $6 million venture loan facility with SpringCM. SpringCM will use the proceeds of the venture loan facility to support its continued growth.
Horizon Technology Finance Corporation (NASDAQ: HRZN) (the “Company” or “Horizon”), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and cleantech industries, today announced it closed a $6 million venture loan facility with SpringCM Inc. (“SpringCM”), a leader in content cloud services. SpringCM will use the proceeds of the venture loan facility to support its continued growth.
“SpringCM enables enterprises to improve the way their employees and customers find, share, collaborate and work with content,” stated Gerald A. Michaud, President of Horizon. “SpringCM combines the ease of use of consumer-focused offerings with robust enterprise-class capabilities designed to put content to work. SpringCM delivers rich security, mobile, sync and business process capabilities to manage content for Sales Contract Management and other critical business processes that are tightly integrated with the most popular transaction systems such as Salesforce.com. Our venture loan, combined with SpringCM’s recent equity financing, strengthens SpringCM’s future prospects as it continues to ramp its sales and marketing efforts.”
Greg Buchholz, CEO of SpringCM, stated, “Horizon’s team of venture lending experts crafted a flexible financing solution that matched our unique needs. We welcome Horizon as a value-added financial partner and we will use the growth capital Horizon provided to meet the growing demand from enterprises for content cloud services that transform the way people find, share, collaborate and work with content.”
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, Horizon is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “HRZN”. In addition, Horizon’s 7.375% Senior Notes due 2019 trade on the New York Stock Exchange under the ticker symbol “HTF.”
SpringCM is the leader in Content Cloud Services for the enterprise. Enterprises need to do more than store and share content — they need to put content to work to accelerate business outcomes. SpringCM helps global brands and public sector agencies — Facebook, NCR, Office Depot, PDI Nice-Pak and the U.S. Department of Energy, among others — solve content-related problems that stand in the way of optimizing revenues, cutting costs, mitigating risk and engaging customers and employees.