Daily News: April 11, 2013

Horizon Tech Provides $3MM Venture Loan Facility to Razorsight


Horizon Technology Finance announced it closed a $3 million venture loan facility with Razorsight Corporation, a provider of cloud-based financial assurance and predictive analytics solutions for communications service providers. The proceeds of the venture loan facility will be used to support the company’s continued growth.

“Razorsight is a pioneer in cloud-based business intelligence and analytics solutions,” stated Gerald A. Michaud, president of Horizon. “The company’s platform technology has helped its customers capture valuable marketing information and increase operating efficiencies. We are pleased to provide Razorsight with a venture loan facility, which will enhance the company’s ability to maintain its strong market momentum on a global basis.”

Brandon Thorne, vice president Finance of Razorsight, stated, “The growth capital with attractive terms provided by Horizon will support our ongoing development and commercial efforts. Horizon created a customized financial solution ideally tailored to our expansion plans. We look forward to working with the Horizon team as we continue to deliver highly differentiated cloud-based services for our leading customers and continue our global expansion.”

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 clean-tech industries.