Horizon Technology Finance Leads $30M Venture Loan Facility for Leading Custom Furniture Company D2C
FARMINGTON, Conn., January 11, 2022 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the areas of technology, life sciences, information and health services, and sustainability industries, today announced the closure of a $30 million venture loan facility to Interior Define, Inc. (“Interior Define”), which Horizon financed $12.5 million from 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 décor, both through e-commerce and a growing physical presence. Its make-to-order approach offers more than 150,000 specific furniture variations, allowing customers to design, customize and purchase furniture at an affordable price, allowing the company to design new products faster and more economically than competitors. . The company is backed by a syndicate of leading investors, including Pritzker Group Venture Capital and Chicago Ventures, and will use the loan proceeds for general growth and working capital.
“Interior Define is redefining online furniture shopping,” said Gerald A. MichaudPresident 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 an ideal place to create quality products with a simple and supportive customer experience. We are delighted to support Interior Define’s continued growth and development.
“We appreciate Horizon’s support as we continue to scale the business, disrupt the D2C experience for customers, and open 30 new Define Studio retail stores through 2022,” said Antonio NievesCEO of Interior Define. “Our highly customizable products and our iterative process provide consumers and the professional design community with incredible choice and a delightful shopping experience, both in-person and online. Thanks to Horizon’s investment in the company , we are able to pivot our offerings to adapt to our customer needs, expanding our product portfolio, positioning us to further expand our market share in the years to come.”
About Horizon Technology Financing
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainability. HRZN’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when of these debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticutwith a regional office in Pleasanton, Californiaand investment professionals located in Portland, Maine, Austin, TXand Reston, Virginia. To learn more, please visit www.horizontechfinance.com.
About the definition of interior
Digitally native and vertically integrated brand, Interior Define, offers the industry’s most compelling and in-depth bespoke furniture experience. Interior Define’s unique make-to-order approach allows customization of configuration, size, cushion upholstery, leg styling and fabric and leather upholstery, including Oeko-Tex© Standard certification, performance and options suitable for children and pets. Interior Define’s omnichannel approach allows customers to benefit from personalized support from design experts every step of the way, from designing mood boards to offering expert advice on fabrics and floor plans, to help bring a design project to life. The democratization of personalization fuels the Interior Define vision to deliver a unique experience for every unique living space. Visit inside Define in Austin, TX, Atlanta, Georgia, Boston, MA, Charlotte, North Carolina, Chicago, IL, Dallas, TX, Los Angeles, CA, New York, NY, Philadelphia, Pennsylvania, San Francisco, California, Seattle, WAand washington d.c.. For more information about Interior Define, visit www.interiordefine.com and follow Interior Define on Instagram @interiordefine.
Statements included in this press release 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 do not constitute are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Horizon Technology Finance Corporation