FARMINGTON, Conn., Nov. 29, 2022 /PRNewswire/ — Horizon Technologies Finance Company (NASDAQ: HRZN) (“Horizon”), a major specialty finance business that offers funds in the variety of secured financial loans to undertaking cash backed corporations in the technology, life science, healthcare facts and expert services, and sustainability industries, announced nowadays it has delivered a enterprise loan facility to Groundspeed Analytics, Inc. (“Groundspeed”).
Groundspeed has formulated an business-top human-in-the-loop AI system that captures, buildings, and provides complete threat data to commercial P&C insurance coverage carriers so they can make quicker, smarter underwriting selections. By speedily turning info into actionable insights, the platform helps carriers enhance performance and gain much more company. Groundspeed is backed by premier buyers like Oak HC/FT and Insight Companions. The enterprise will use the financial loan proceeds for typical company and working cash functions.
“Groundspeed’s system is solving 1 of the insurance industry’s most difficult troubles by accelerating the insurance plan submission method and creating commercial P&C carriers more effective,” explained Gerald A. Michaud, President of Horizon. “As a outcome, Groundspeed has been ready to win subscription contracts with some of the largest and most nicely-identified industrial insurance policies carriers in the nation. We are pleased to support Groundspeed’s ongoing enlargement strategy and ongoing progress.”
“We are thrilled to obtain Horizon’s assistance to assist scale a certainly progressive system that has currently tested by itself with top professional carriers,” claimed Eric Kobe, Chief Government Officer of Groundspeed. “Thanks to Groundspeed, carriers are bettering their time to quote, primary to incremental organization, and they can be self-confident that data is becoming reliably structured so they can far better recognize and cost threat.”
About Horizon Technologies Finance
Horizon Know-how Finance Corporation (NASDAQ: HRZN) is a top specialty finance company that provides funds in the variety of secured loans to venture money backed corporations in the engineering, existence science, health care details and services, and sustainability industries. The financial investment objective of Horizon is to maximize its expenditure portfolio’s return by building recent revenue from the credit card debt investments it would make and capital appreciation from the warrants it receives when earning these types of personal debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional workplace in Pleasanton, California, and investment experts positioned in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To learn far more, remember to go to horizontechfinance.com.
About Groundspeed Analytics
Groundspeed Analytics is the primary SaaS-sent application submission and information products and services provider for the commercial P&C sector. Groundspeed’s API-primarily based alternative automates the ingestion and enrichment of unstructured danger data in plan apps. As a end result, they deliver crucial insights to support carriers much better evaluate and value risk and do so additional immediately than conventional guide processes. Groundspeed leverages its exclusive, market-main contributory dataset, which enriches submission document data mixed with predictive analytics. In addition, it can even more enrich operation by integrating 3rd-get together data, such as handle corrections, geocoding, VIN# examining, vehicle info, and NAICS/SIC and DUNs information and facts about the insured. To study more about how Groundspeed can assist unlock the value in your unstructured info, go to www.groundspeed.com.
Statements bundled herein could constitute “forward-searching statements” in just the this means of the Non-public Securities Litigation Reform Act of 1995. Statements other than statements of historic info incorporated in this push release may constitute ahead-searching statements and are not assures of upcoming efficiency, condition or outcomes and include a range of risks and uncertainties. Actual effects may possibly differ materially from those in the forward-wanting statements as a consequence of a quantity of elements, including all those described from time to time in the Firm’s filings with the Securities and Exchange Fee. Horizon undertakes no duty to update any ahead-wanting assertion designed herein. All forward-searching statements discuss only as of the day of this push launch.
Resource Horizon Know-how Finance Corporation