Horizon Technology Finance Corporation announced it closed a $6 million venture loan facility with SpringCM Inc. ("SpringCM"), a leader in content cloud services. SpringCM will use the proceeds of the venture loan facility to support its continued growth.
"SpringCM enables enterprises to improve the way their employees and customers find, share, collaborate and work with content," stated Gerald A. Michaud, President of Horizon. "SpringCM combines the ease of use of consumer-focused offerings with robust enterprise-class capabilities designed to put content to work. SpringCM delivers rich security, mobile, sync and business process capabilities to manage content for Sales Contract Management and other critical business processes that are tightly integrated with the most popular transaction systems such as Salesforce.com. Our venture loan, combined with SpringCM's recent equity financing, strengthens SpringCM's future prospects as it continues to ramp its sales and marketing efforts."
Greg Buchholz, CEO of SpringCM, stated, "Horizon's team of venture lending experts crafted a flexible financing solution that matched our unique needs. We welcome Horizon as a value-added financial partner and we will use the growth capital Horizon provided to meet the growing demand from enterprises for content cloud services that transform the way people find, share, collaborate and work with content."
Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and cleantech industries.
SpringCM is the leader in Content Cloud Services for the enterprise. SpringCM helps global brands and public sector agencies -- Facebook, NCR, Office Depot, PDI Nice-Pak and the U.S. Department of Energy, among others -- solve content-related problems that stand in the way of optimizing revenues, cutting costs, mitigating risk and engaging customers and employees.