FARMINGTON, Conn. and NEW YORK, April 3, 2017 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") ("Company"), a leading 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 cleantech industries, announced today it has closed a $12 million venture loan to IgnitionOne, Inc. ("IgnitionOne").
IgnitionOne, a leading digital marketing and services provider and one of the largest independent marketing technology companies in the world, is backed by top investors including ABS Capital Partners and SoftBank Capital. IgnitionOne will use the proceeds for general working capital purposes.
"We are pleased to provide IgnitionOne with this growth capital," said Gerald A. Michaud, President of Horizon. "The company's proprietary, Score-Powered Marketing technology analyzes consumers' online and shopping behavior, enabling marketers to effectively target specific audiences throughout the digital ecosystem and deliver personalized marketing at scale. This debt financing will support IgnitionOne's continued development of its award-winning, digital marketing platform."
Will Margiloff, CEO of IgnitionOne, stated, "Horizon's experienced team of venture lending professionals provided us an attractive source of capital to drive IgnitionOne's future growth. With this venture loan, we will continue to expand our market presence while developing new, innovative technologies that maximize first-party data while building and optimizing stronger audiences."
About Horizon Technology Finance
Horizon Technology Finance Corporation is a leading 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 cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
IgnitionOne offers technology and services that help marketers win. The company focuses on intelligent audience creation, real-time cross-channel scoring, and robust optimization - providing a layer for smarter marketing decisions and deeper insights, whether through native IgnitionOne solutions such as Search, Display, Email, and Website Personalization - or through customers' pre-existing marketing technology.
With a global footprint of over 450 employees in 10 countries, IgnitionOne is one of the largest independent marketing technology companies in the world, currently scoring over 300 million users monthly in 75 countries and powering more than $60 billion in revenue each year for leading brands, including General Motors, CenturyLink, Bridgestone, La Quinta and Acer, as well as advertising agencies such as 360i, GroupM and ZenithOptimedia. For more information, please visit www.ignitionone.com or follow the company on Twitter @ignitionone.
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Horizon Technology Finance Corporation