Horizon Tech Leads $6M Loan for Ekahau
Gerald A. Michaud
Horizon Technology Finance Corporation (NASDAQ: HRZN), a specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries, today announced it led a $6 million venture loan facility for Ekahau, Inc., a provider of Wi-Fi-based Real-Time Location Systems (RTLS) which enables enterprises to locate, track and manage assets, inventory, staff and visitors.
Ekahau will use the funds for working capital purposes. Horizon funded an initial $1.5 million of its $3 million commitment under the venture loan facility.
“We are pleased to lead this venture loan facility for Ekahau which will support Ekahau’s continued customer and revenue growth,” stated Gerald A. Michaud, President of Horizon. “Ekahau’s innovative technology platform delivers real-time location intelligence enabling a broad range of public and private sector enterprises to enhance their operational visibility and increase productivity.”
Mark Norris, President and CEO of Ekahau stated, “We appreciate Horizon’s support and confidence in Ekahau. Horizon provided growth capital that matched Ekahau’s financing needs with an appropriate structure and attractive terms. We look forward to working with Horizon as we maintain our focus on driving growth in the healthcare, retail and education markets.”