FARMINGTON, Conn. and SAN CARLOS, Calif., April 1, 2015 (GLOBE NEWSWIRE) — Horizon Technology Finance Corporation (HRZN) (“Horizon”), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and cleantech industries, announced today it has closed a venture loan to Education Elements, Inc. (“Education Elements”), a services and software solution provider that helps districts and schools develop and implement personalized learning strategies. Education Elements will use the funds for working capital purposes to continue to provide outstanding services and technology solutions to school districts nationwide.
“We are pleased to provide Education Elements the growth capital to support its expansion initiatives,” stated Gerald A. Michaud, President of Horizon. “Education Elements’ unique platform solution provides teachers and school administrators with data and analytic capabilities designed to increase student engagement and drive stronger academic performance. Led by its experienced and knowledgeable management team, Education Elements’ predictable revenue model and strong pipeline of new school districts represents a quality addition to Horizon’s dynamic venture loan portfolio.”
Anthony Kim, CEO of Education Elements, stated, “Horizon demonstrated their reliability as a lending partner by tailoring a venture loan that considerably enhances our growth potential. We appreciate Horizon’s financial support as we continue to market our unparalleled technology platform nationwide.”
About Horizon Technology Finance
Horizon Technology Finance Corporation 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 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. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “HRZN”. To learn more, please visit www.horizontechnologyfinancecorp.com.
About Education Elements
Education Elements is a nationally recognized solutions company that helps districts develop and implement personalized learning strategies. Education Elements’ services help districts to create strategies, design instructional models and support teachers in integrating technology and instruction. Its platform provides students, teachers, and administrators each with a single entry point to access digital content and the detailed performance data they need to guide instruction and learning. This innovative cloud service offers simple and accessible data visualizations with actionable insights for users of all types. Education Elements has worked with over 100 schools across 40+ districts in the US; more than any other company.
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 our 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.
- Venture Capital
- Information Technology