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March 27, 2013

Columbia data management firm lands $5.5M loan for growth

Columbia data management firm lands $5.5M loan for growth

Sarah Gantz   
27 March 2013
Baltimore Business Journal

Columbia data management firm Lotame Solutions Inc. has secured a $5.5 million venture loan to expand the company.

The loan, from Farmington, Conn.-based Horizon Technology Finance Corp. (NASDAQ: HRZN) will be used to strengthen Lotame's business globally and to grow the company's sales, technology and executive departments.

The loan, "provides us with the additional liquidity we need to execute our business plan and meet the strong and growing demand for our data management products and services," Lotame CEO Andy Monfried said in a statement.

The company's data management platform Crowd Control helps users learn about their audience to improve their marketing approach.

Lotame was started in 2008 by former workers of Baltimore's Advertising.com employees.

With the loan from Horizon, Lotame is now backed by at least $39 million in funding.

http://www.bizjournals.com/baltimore/news/2013/03/27/lotame-solutions-lands-55m-loan-for.html?s=print

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