FARMINGTON, Conn., Nov. 29, 2021 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it provided an additional venture loan, in the principal amount of $5 million, to Everstream Analytics (“Everstream”), a provider of supply chain risk management software and an existing Horizon portfolio company.
Everstream offers AI-powered enterprise software that enables real-time and predictive risk analytics for global supply chains. Everstream is an end-to-end supply chain risk analytics solution supporting better decision making across procurement, business continuity and logistics operations. With an extensive library of professionally curated weather, climate, transportation, financial, geopolitical, social and trade data feeds, Everstream is becoming an industry standard for effectively managed supply chains. Everstream is backed by prominent investors including Columbia Capital, Greenspring Associates and Blue Lagoon. Everstream will use the loan proceeds for general growth and working capital purposes.
“Everstream’s risk management software has grown increasingly vital amid the supply chain disruptions we are seeing around the world today, and we are pleased to add to our ongoing support,” said Gerald A. Michaud, President of Horizon. “Today’s current environment for global logistics has created opportunities for Everstream to substantially grow its list of clients across multiple industries.”
“We’re very pleased to receive the continued support of Horizon,” said Julie Gerdeman, Chief Executive Officer of Everstream. “Our best-in-class risk management software solutions provide invaluable intelligence and strategic guidance that enables companies to navigate around current disruptions and create a playbook to avoid future ones. From port congestion to catastrophic weather to geopolitical events – ensuring essential business continuity, we give our clients a real competitive edge.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of HRZN is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit www.horizontechfinance.com.
Everstream Analytics is a supply chain risk analytics company that delivers actionable insights to increase the resilience and agility of our clients’ supply chains, protecting revenue and reputation. Our solution integrates with our clients’ Procurement, Logistics and Business Continuity platforms to deliver global, end-to-end visibility of supply chain risk to enable our clients to Think Bigger. We employ a unique combination of human expertise, artificial intelligence and proprietary data to deliver predictive insights to enable our clients to See Further. We combine data science, proprietary intelligence and multilingual specialists to monitor global risk and events in real-time to enable our clients to Act Sooner. We embed risk analytics into decision making during planning and execution across all functions and phases of our clients’ supply chains to help them Get in Front of What’s Ahead and turn risk into a competitive advantage. For more information, please visit www.everstream.ai.
Statements included herein 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 are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
SOURCE Horizon Technology Finance Corporation