Intersections successfully completed a $20 million term loan financing with Crystal Financial. The company also noted that during the fourth quarter of 2015, it closed a private placement of 3.0 million shares of its common stock, raising gross proceeds of $7.5 million.

The company will use up to a maximum of $15 million of the proceeds from the term loan in connection with the market launch of the company’s pet health monitoring solution, the Voyce Pro Wellness Monitoring Program. The remaining portion will be used to support the company’s Identity Guard product and other businesses.

For the duration of the three-year term of the Crystal debt financing, any additional capital needs of Voyce can only be funded from cash generated from Voyce’s operations or a third-party equity investment directly into Voyce, which is subject to limitations in the credit agreement with Crystal.

In connection with the term loan, the company terminated its existing loan agreement with Silicon Valley Bank. Loeb Partners served as the exclusive placement agent in the debt transaction.

“Intersections has robust capabilities in the collection, management and monitoring of data. Not only are they leaders in providing consumer identity protection services, but they also are using their expertise to deliver an innovative product for consumers to manage their pets’ health,” said Cheryl Carner, managing director of Crystal Financial.