RESTON, VA — (Marketwired) — 04/15/13 — Razorsight, the global leader in cloud-based analytics for the communications industry, announced that the company has closed a $3 million loan facility from Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”). The new financing will support Razorsight-s continued product and market expansion.
“In response to increasing demand by the world-s leading communications providers, Razorsight is accelerating our global expansion and product roadmap,” said Razorsight CEO Charlie Thomas. “This new funding will help extend Razorsight-s leadership in developing cutting edge analytics capabilities that improve our customers- financial performance.”
“Razorsight is the pioneer and market leader in cloud-based business intelligence and analytics solutions for the communications industry,” said Gerald A. Michaud, President of Horizon. “The company-s platform technology is the industry benchmark for telecom, mobile and cable companies that seek to drive measurable value from their big data. We are pleased to provide Razorsight with capital to further accelerate their strong market momentum worldwide.”
Razorsight-s cloud-based analytics software is used by the world-s largest communications providers to improve profits. Razorsight monitors network and subscriber activities to control costs, predict churn, gain insight into M2M and OTT activity, and measure profitability by customer, service type, or region. Customers benefit from unlocking key strategic insights to increase customer lifetime value (CLV). Razorsight-s highly scalable, cloud applications are non-intrusive, easy to install, require no capital investment, and have delivered millions of dollars in profit gains at industry leaders including AT&T, Verizon, Telus, Comcast, Cbeyond, CenturyLink, Facebook, Windstream, T-Mobile, Telekomunikacja Polska (TP Group), Tata and IBM.
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 clean-tech industries. The investment objective of Horizon Technology Finance is to maximize total risk-adjusted returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants to purchase the equity of portfolio companies. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, the Company is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon-s common stock trades on the NASDAQ Global Select Market under the ticker symbol, “HRZN.” In addition, the Company-s 7.375% Senior Notes due 2019 trade on the New York Stock Exchange under the ticker symbol “HTF.” To learn more, please visit .
For Razorsight:
Jim Crawford
703-498-7315
For Horizon:
The IGB Group
Leon Berman / Michael Cimini
(212) 477-8438 / (212) 477-8261
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