Thursday, 12 December 2019

Horizon Technology Finance provides $8M venture loan to outbound engine

03 July 2019 | News

OutboundEngine offers subscription options ranging from $199 to $449 per month.

Representative Image

Representative Image

Horizon Technology Finance Corporation, 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 has announced that it has provided an $8 million venture loan to OutboundEngine.

OutboundEngine is an all-in-one marketing software that includes a responsive website, relevant content created and sent automatically across email and social media, and hands-free social advertising on Facebook and Instagram. OutboundEngine serves as a command center for managing contacts, tracking marketing results, optimizing online reputation, and following up with leads -- all from a smartphone. OutboundEngine offers subscription options ranging from $199 to $449 per month. OutboundEngine's largest investors include Silverton Partners, S3 Ventures, Noro-Moseley Partners, Harmony Partners, and Floodgate Fund. OutboundEngine will use the proceeds to fund its growth strategy and for general corporate purposes.

"OutboundEngine's proven and successful marketing software has allowed them to build a strong base of over 10,000 customers across the small business and independent professional landscape," said Gerald A. Michaud, President of Horizon. "Importantly, OutboundEngine has a key differentiator with 'content done for me' which provides customers with easy-to-use and sector-specific marketing content at an affordable price point. We are pleased to be able to support OutboundEngine's overall plans to expand."

"We are excited to partner with Horizon as we embark on our next phase of development," said Marc Pickren, Chief Executive Officer of OutboundEngine."With the additional funding from Horizon, we expect to hire additional sales representatives, establish new customer acquisition channels through channel partnerships, and officially launch the ability to purchase, onboard and use the software 100% online. This will allow new users to enjoy the benefits of the platform while considering which of our full-service packages to subscribe to. OutboundEngine believes that small business is the backbone of the American economy and that these brave individuals deserve an all-in-one, low cost marketing solution that is pivotal in guiding them to success on their terms and not getting left behind. Horizon's investment in OutboundEngine will further our ability to serve a larger addressable market and to substantially grow our ability to provide value at scale."




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