FARMINGTON, Conn. and NORCROSS, Ga., Jan. 07, 2016 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (NASDAQ:HRZN) ("Horizon"), 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, today announced it has led a $15 million venture loan for NOMi Corporation (“NOMi”).
NOMi, a complete in-store retail analytics solution platform provider, is backed by leading venture capital firms, including Columbia Capital, Mohr Davidow Ventures, and Information Venture Partners. NOMi will use the proceeds for working capital purposes.
“NOMi is a leader in the retail analytics space and represents a strong addition to our high quality venture loan portfolio,” stated Gerald A. Michaud, President of Horizon. “NOMi’s technology and platform have been validated through the company’s strong relationships with top tier retailers, its growing pipeline of opportunities, continued revenue traction and growth and ongoing investor support. Our growth capital positions NOMi to fully capitalize on a large and attractive market opportunity.”
“We are very impressed with Horizon’s team of venture lending experts and the customized solutions they provide,” said Steve Jeffery, President and CEO of NOMi. “This growth capital will enable NOMi to better support the growing number of retailers who are implementing in-store analytics to help decrease expenses, increase revenues and optimize the customer experience.”
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 within the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechnologyfinancecorp.com.
NOMi is the result of a 2014 merger of Atlanta-based Brickstream® Corporation and New York-based NOMi® Technologies. With more than 175,000 Brickstream sensors in use in more than 65 countries, NOMi is the market leader in retail store analytics. By combining best-in-class Brickstream hardware with a comprehensive software suite, NOMi helps retailers around the world deliver the best possible customer experience by maximizing efficiency across operations, customer service and marketing. For more information, please visit www.nomi.com.
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.
Contacts: Horizon Technology Finance Christopher M. Mathieu Chief Financial Officer (860) 676-8653 email@example.com Investor Relations and Media Contact: The IGB Group Leon Berman (212) 477-8438 firstname.lastname@example.org
Source: Horizon Technology Finance Corporation