Daily News: January 10, 2013

Horizon Closes $3 Million Venture Loan to VidSys

Horizon Technology Finance announced that it provided a $3 million venture loan to VidSys, a provider of Physical Security Information Management software.

Gerald A. Michaud, president of Horizon, stated, “VidSys is a pioneer in PSIM applications, empowering public sector agencies and enterprise organizations with mission-critical intelligence that improves their security while reducing operational costs. Our venture debt financing will enable VidSys to accelerate the adoption of its advanced technology platform on a global basis.”

John F. Bruno, CFO and SVP of VidSys, stated, “Horizon’s leading industry reputation and experienced team of dedicated investment professionals validated our choice of a proven venture lender. The $3 million venture loan we received from Horizon enhances our liquidity and strengthens our ability to reach key corporate milestones and continue to grow our business. We appreciate Horizon’s support and confidence in our future prospects.”

Horizon 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.

VidSys provides a transformational Physical Security Information Management platform used to run operations centers for public sector agencies and leading enterprise organizations globally.