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Horizon Technology Finance Provides $15MM Venture Loan Facility to Alula

January 04, 2021, 09:03 AM
Filed Under: Security Systems

Horizon Technology Finance Corporation funded $13 million of a $15 million venture loan facility to Alula Holdings, LLC ("Alula"), which will refinance existing debt as well as provide general working capital.

Alula designs and manufactures security systems sold exclusively to professional distributors and dealers, offering them a complete end-to-end solution that integrates hardware and interactive services for a seamless security, automation and video experience. Alula currently partners with over 3,500 security dealers in the U.S., and its products can be white labeled for the dealer or carry the Alula brand.  The company was founded by ABS Capital Partners and Adams Street Partners.

"With its integrated technological capabilities and its strong partnerships with security dealers, Alula is well positioned to enhance its stake in the multi-billion dollar residential and small business security segment," said Gerald A. Michaud, President of Horizon. "Alula's advanced wireless and 5G ready capabilities position the company to succeed in both the rapidly expanding do-it-yourself market, as well as the legacy do-it-for-me market of more traditional security. We are pleased to further support Alula as it executes on its future growth initiatives."

"We appreciate Horizon's support of Alula and our innovative security technology," said Brian McLaughlin, Alula's Chief Executive Officer. "With most Americans continuing to spend more time at home, the need for effective security is more vital than ever, and the connectivity of our security solutions ideally position us to gain market share. Horizon's support of Alula will enable us to add new features to our platform and further expand our suite of security solutions."

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