Horizon Technology Finance Provides $15 Million Venture Loan Facility to Topia, a leader in Global Talent Mobility
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $15 million venture loan facility granted to Topia Mobility Inc. to support its market expansion. Topia, a leader in global talent mobility, offers subscription-based software solutions that automate workforce management. The funding aims to enhance Topia's growth objectives and marketing efforts, especially focusing on the recently launched Topia One platform. With over $115 million raised from investors, Topia serves global brands such as Schneider Electric and Dell.
- Provided $15 million venture loan to Topia Mobility Inc. for market expansion.
- Topia's solutions automate labor-intensive workforce management processes.
- Topia has received over $115 million in funding from notable tech investors.
- None.
FARMINGTON, Conn., Oct. 5, 2020 /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 has provided a
"Topia's customers include major multi-national enterprises across multiple industries, which speaks to its clear success, as well as its ability to continue leading the way with new solutions for today's remote and distributed workforces," said Gerald A. Michaud, President of Horizon. "We are excited to support Topia's growth objectives as it continues to innovate and to provide unique and powerful solutions for mobility, payroll and compliance needs."
Topia's vision is to transform and enhance the way companies manage their global workforce. Topia offers a proprietary suite of subscription-based software solutions that convert laborious manual processes into automated, easy-to-manage digital processes. Topia's solutions help companies deploy and engage employees anywhere in the world. Recently, Topia unveiled Topia One, which seamlessly integrates its suite of software solutions onto one platform. Topia has received funding from premier tech investors, including New Enterprise Associates (now NewView Capital) and Notion Capital.
"We are delighted with Horizon's support of Topia, and its recognition of the way we have transformed the global talent mobility space," said Shawn Farshchi, Chief Executive Officer of Topia. "With Topia One, we have created the first cloud-based open platform that provides an integrated data standard across global talent mobility, while we continue to create and offer additional solutions to solve the mobility challenges created by COVID-19. Horizon's support allows us to focus on the next generation of Topia solutions and enhance our marketing efforts in order to rapidly expand our business and market share."
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 Horizon 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. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please visit www.horizontechfinance.com.
About Topia
Topia is the leader in Global Talent Mobility. We empower companies to deploy, manage and engage employees anywhere in the world. The Topia platform enables organizations to deliver mobility as part of a broader talent strategy encompassing all types of employee movement – remote and distributed workforces, business travel, and more traditional relocations and assignments. This drives enhanced employee experiences and competitive advantage by ensuring the right people are in the right place at the right time, while staying compliant no matter where they are. The Topia platform automates the entire global talent mobility process, including scenario-based planning, expat payroll, tax and immigration compliance, reporting and more. Topia powers global talent mobility programs for world-renowned brands such as Schneider Electric, Dell, Veolia, Equinor and AXA. Topia has raised over
Forward-Looking Statements
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.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation
