Horizon Technology Finance, a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries, led a $15 million venture loan facility to Branded Online (d.b.a. Nogin), of which Horizon funded $5 million of the initial $10 million draw, while a private investment vehicle managed by Horizon Technology Finance Management funded $5 million.
Nogin delivers commerce-as-a-service to a community of consumer and lifestyle brands in the fashion, consumer packaged goods (CPG), beauty, health, wellness and other retail industries.
“Nogin’s enterprise-class commerce-as-a-service platform represents a diverse range of global consumer brands. Its proven technology sheds significant operating expenses, enabling leadership to focus on the outcomes that matter most: products and profit. Nogin provides the experience, tools and technology that help brands drive revenue and reduce costs while staying ahead of the ever-changing retail landscape,” Gerald A. Michaud, president of Horizon Technology Finance, said. “We are excited to support Nogin’s growth as it continues to add high-profile consumer brands powered by its intelligent e-commerce platform.”
“The vision that drives Nogin has its roots in the rich history and experience of its founding team members, who strongly believed that they would create an exciting and innovative new approach to e-commerce that included everything a brand would need from the ground up,” Jan-Christopher Nugent, CEO of Nogin, said. “This team built a technology-driven platform that facilitates growth opportunities and successfully combines the power and learnings gained from a growing community of brands, knowledge experts and machine learning solutions that help brands compete more aggressively with ‘big retail.’ Horizon’s support validates that ground-breaking vision. Simply speaking, we free up brands to focus on important strategic priorities like product innovation, exploring deeper connections with their customers and forging new avenues to grow their brand equity.”
