FARMINGTON, Conn., July 1, 2019 /PRNewswire/ -- 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, announced today it has provided an $8 million venture loan to OutboundEngine, Inc. ("OutboundEngine").
OutboundEngine is an all-in-one marketing software that includes a responsive website, relevant content created and sent automatically across email and social media, and hands-free social advertising on Facebook and Instagram. OutboundEngine serves as a command center for managing contacts, tracking marketing results, optimizing online reputation, and following up with leads -- all from a smartphone. OutboundEngine offers subscription options ranging from $199 to $449 per month. OutboundEngine's largest investors include Silverton Partners, S3 Ventures, Noro-Moseley Partners, Harmony Partners, and Floodgate Fund. OutboundEngine will use the proceeds to fund its growth strategy and for general corporate purposes.
"OutboundEngine's proven and successful marketing software has allowed them to build a strong base of over 10,000 customers across the small business and independent professional landscape," said Gerald A. Michaud, President of Horizon. "Importantly, OutboundEngine has a key differentiator with 'content done for me' which provides customers with easy-to-use and sector-specific marketing content at an affordable price point. We are pleased to be able to support OutboundEngine's overall plans to expand."
"We are excited to partner with Horizon as we embark on our next phase of development," said Marc Pickren, Chief Executive Officer of OutboundEngine."With the additional funding from Horizon, we expect to hire additional sales representatives, establish new customer acquisition channels through channel partnerships, and officially launch the ability to purchase, onboard and use the software 100% online. This will allow new users to enjoy the benefits of the platform while considering which of our full-service packages to subscribe to. OutboundEngine believes that small business is the backbone of the American economy and that these brave individuals deserve an all-in-one, low cost marketing solution that is pivotal in guiding them to success on their terms and not getting left behind. Horizon's investment in OutboundEngine will further our ability to serve a larger addressable market and to substantially grow our ability to provide value at scale."
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) 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 also has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. To learn more, please visit www.horizontechfinance.com.
Established in 2012 and headquartered in Austin, Texas, OutboundEngine is a leading provider of B2B marketing automation software that empowers small business owners with actionable marketing campaigns. OutboundEngine's software enables businesses to maintain impeccable online reputations, build stronger relationships, acquire new customers and stay focused on what they do best. For more information, visit www.outboundengine.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 the Company's 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.
SOURCE Horizon Technology Finance Corporation