From the Wires
Horizon Technology Finance Provides $15 Million Venture Loan Facility to IntelePeer
By: PR Newswire
Jan. 3, 2018 04:15 PM
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
SOURCE Horizon Technology Finance Corporation
Latest Cloud Developer Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week