Horizon Technology Finance Provides $15 Million Venture Loan Facility to IntelePeer
FARMINGTON, Conn. and SAN MATEO, Calif., Jan. 3, 2018 /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 that it closed a $15 million venture loan facility to IntelePeer Cloud Communications LLC ("IntelePeer") on December 18, 2017. Horizon funded an initial $12 million of its commitment under the facility.
IntelePeer is a leading provider of business communications including cloud-based Unified Communications, cloud contact center, and enterprise voice services. IntelePeer is backed by VantagePoint Venture Partners, Kennet Partners and NorthCap Partners. IntelePeer will use the proceeds for general working capital purposes.
"We are pleased to provide IntelePeer with this venture debt financing," said Gerald A. Michaud, President of Horizon. "The company's cloud-based technology allows users to communicate via voice, videoconferencing, text, and other media on their preferred devices and applications, including Unified Communications solutions from Cisco and Genband. This loan facility will support IntelePeer's continued growth as it brings its cloud communications platform to the marketplace."
Frank Fawzi, CEO of IntelePeer, stated, "Horizon's experienced team of lending experts structured a financing solution designed to support our go-to-market strategy. With this growth capital, IntelePeer will continue to grow its customer base by reaching new end-users across multiple industries and adding further channel partners to our growing industry network."
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.
IntelePeer has been a leading provider of Voice Services since 2003. The company delivers complete business communications solutions including full-service cloud calling directly integrated with Cisco Spark unified communications, complete cloud contact center, enterprise voice services, and UC enablement for Internet carriers and hosting companies. Visit www.intelepeer.com to learn more.
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
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