Columbia tech company Lotame Solutions gets $5.5 million loan

Firm plans to hire sales, technology and executive employees

March 26, 2013|By Lorraine Mirabella, The Baltimore Sun

Columbia-based technology company Lotame Solutions Inc. has been awarded a $5.5 million venture loan that's expected to help boost sales and marketing.

The loan came from Horizon Technology Finance Corp. The Farmington, Conn., finance company provides secured loans to venture capital and private equity-backed companies in the technology, life science, healthcare information and clean-tech industries that are in the development stage.

Lotame, which offers data management services to publishers, ad networks and marketers, plans to strengthen its global initiatives and hire new employees on its sales, technology and executive teams.

The loan will help Lotame meet a "strong and growing demand" for the company's data management products, said Andy Monfried, Lotame's founder and CEO.

Gerald A. Michaud, Horizon's president, called Lotame "an exciting company with a strong entrepreneurial spirit."

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