Horizon Technology Finance closed a $30 million venture loan facility to Interior Define, Inc., of which Horizon funded $12.5 million of the initial $20 million draw, and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon’s advisor, funded $7.5 million.
Interior Define is a leading customizable D2C furniture brand offering thousands of upholstery items as well as dining, lighting, and decor, through both e-commerce and a rapidly expanding brick-and-mortar presence. Its made-to-order production approach offers over 150,000 specific furniture variations, enabling customers to design, personalize, and purchase furniture affordably, allowing the company to design new products more quickly and economically than competitors. The company is backed by a top-tier investor syndicate, including Pritzker Group Venture Capital and Chicago Ventures, and will use the loan proceeds for general growth and working capital purposes.
“Interior Define is redefining online shopping for furniture,” said Gerald A. Michaud, President of Horizon. “By providing an immersive, omnichannel shopping environment, including the ability to consult one-on-one with a design specialist, Interior Define has found a sweet spot in creating quality products with a simple and favorable customer experience. We are excited to support Interior Define’s continued growth and development.”
“We appreciate Horizon’s support as we continue to evolve the business, disrupt the D2C experience for customers and open 30 new Define Studio retail stores through 2022,” said Antonio Nieves, Chief Executive Officer of Interior Define. “Our highly customizable products and iterative process provide consumers and the professional design community alike with incredible choice and a pleasurable buying experience both in person and online. As a result of Horizon’s investment in the business, we are able to pivot our offerings to fit our customers’ needs, expanding our product portfolio, positioning us to further expand our market share in the years to come.”