Horizon Technology Finance closed a $30 million venture loan facility for Interior Define. Horizon Technology Finance funded $12.5 million of the initial $20 million draw, and a private investment vehicle managed by Horizon Technology Finance Management, Horizon Technology Finance’s advisor, funded $7.5 million.
Interior Define is a direct-to-consumer furniture brand offering upholstery items as well as dining, lighting and decor through both e-commerce and in-person retail channels. The company is backed by an investor syndicate that includes Pritzker Group Venture Capital and Chicago Ventures. It will use the loan proceeds for general growth and working capital purposes.
“Interior Define is redefining online shopping for furniture,” Gerald A. Michaud, president of Horizon Technology Finance, said. “By providing an immersive, omnichannel shopping environment, including the ability to consult one-on-one with a design specialist, Interior Define has found a sweet spot in creating quality products with a simple and favorable customer experience. We are excited to support Interior Define’s continued growth and development.”
“We appreciate Horizon’s support as we continue to evolve the business, disrupt the D2C experience for customers and open 30 new Define Studio retail stores through 2022,” Antonio Nieves, CEO of Interior Define, said. “Our highly customizable products and iterative process provide consumers and the professional design community alike with incredible choice and a pleasurable buying experience both in person and online. As a result of Horizon’s investment in the business, we are able to pivot our offerings to fit our customers’ needs, expanding our product portfolio, positioning us to further expand our market share in the years to come.”