Horizon leads $12M venture loan facility for Digital Signal
Horizon Technology Finance Corporation — a specialty finance company that provides secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries — announced it has led a $12 million venture loan facility for identity management firm Digital Signal Corporation (DSC).
Digital Signal provides enterprise-scale biometric solutions and customized applications for clients around the world. The firm develops human identification and identity management solutions, including dynamic three-dimensional (3D) long-range facial recognition capabilities.
Digital Signal is backed by leading venture capital firms, including SilverHaze Partners and Novak Biddle Venture Partners. It will use the proceeds of the venture loan facility for working capital purposes.
“We are pleased to lead this venture loan facility for DSC,” stated Gerald A. Michaud, president of Horizon. “The company’s 3D facial recognition technology provides a differentiated security and fraud prevention solution, which has significant commercial applications in both the public and private sectors. Our growth capital will enable DSC to continue to provide the government sector with a timely and critical security solution, while allowing it to expand into other attractive markets.”
David Guttadauro, President and CEO of DSC, added, “Horizon’s team of venture lending experts provided us with a customized financing solution that enhanced both our financial flexibility and ability to capitalize on the demand for our human identification solutions. Our facial intelligence and identity management solutions are poised to address different layers of security needs, including identifying terrorists before they have a chance to strike. We combine the power of surveillance with the accuracy of biometrics to provide government and commercial customers with the means to positively protect their people and places. We intend to use Horizon’s growth capital to expand our market reach and to advance the development of human identification technology.”