Business
Horizon Technology Finance Leads $15 Million Growth Capital to Nogin
New infusion of capital to fund go-to-market capacity to support Nogin's Commerce as a Service solutions that empower consumer brands FARMINGTON, Conn., Aug.
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"New infusion of capital to fund go-to-market capacity to support Nogin's Commerce as a Service solutions that empower consumer brands\n\n\n FARMINGTON, Conn., Aug. 18, 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 led a $15 million venture loan facility to Branded Online, Inc. (dba \"Nogin\"), of which Horizon funded $5 million of the initial $10 million draw, and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $5 million.\nNogin delivers commerce as a service to a growing community of consumer and lifestyle brands in the fashion, consumer packaged goods (CPG), beauty, health, wellness and other retail industries. The company's full-stack intelligent eCommerce platform drives results by including sales optimization, experienced knowledge experts, artificial intelligence-driven marketing, fulfillment, customer service, and research & development. Their customers also leverage Nogin's full-spectrum creative design, photography, marketing, logistics (including warehouse and fulfillment), merchant services, and even fraud protection services. Nogin fully manages a brand's front-to-back-end operations, helping increase customer revenue and profitability, all while enabling its customers to focus on the core reasons they are in business.\n\"Nogin's enterprise-class, commerce as a service platform represents a diverse range of global consumer brands. Its proven technology sheds significant operating expenses, enabling leadership to focus on the outcomes that matter most: products and profit. Nogin provides the experience, tools, and technology that help brands drive revenue and reduce costs, while staying ahead of the ever-changing retail landscape,\" said Gerald A. Michaud, President of Horizon. \"We are excited to support Nogin's growth as it continues to add high-profile consumer brands powered by its intelligent eCommerce platform.\" \n\"The vision that drives Nogin has its roots in the rich history and experience of its founding team members, who strongly believed that they would create an...