Horizon Technology Finance Corporation announced it has led a $12 million venture loan facility for Digital Signal Corporation ("DSC").
DSC, a leader in human identification and identity management solutions, is backed by leading venture capital firms, including SilverHaze Partners and Novak Biddle Venture Partners. DSC will use the proceeds for working capital purposes.
"We are pleased to lead this venture loan facility for DSC," stated Gerald A. Michaud, President of Horizon. "The company's 3D facial recognition technology provides a differentiated security and fraud prevention solution, which has significant commercial applications in both the public and private sectors. Our growth capital will enable DSC to continue to provide the government sector with a timely and critical security solution, while allowing it to expand into other attractive markets."
David Guttadauro, President and CEO of DSC, stated, "Horizon's team of venture lending experts provided us with a customized financing solution that enhanced both our financial flexibility and ability to capitalize on the demand for our human identification solutions. Our facial intelligence and identity management solutions are poised to address different layers of security needs, including identifying terrorists before they have a chance to strike. We combine the power of surveillance with the accuracy of biometrics to provide government and commercial customers with the means to positively protect their people and places. We intend to use Horizon's growth capital to expand our market reach and to advance the development of human identification technology."
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.
Digital Signal Corporation (DSC) was founded in 2001 and is headquartered in Chantilly, Virginia. DSC is a world leader in human identification and identity management solutions, including dynamic three-dimensional (3D) long-range facial recognition capabilities. DSC offers comprehensive biometric enterprise-scale solutions and customized applications for clients globally.