Columbia’s Lotame Inc. Receives $5.5 Million Loan

Lotame Solutions Inc., a Columbia-based tech company, announced this week that it will receive a $5.5 million loan from Horizon Technology Finance Corporation to expand its company.

Lotame specializes in providing data to companies about their customers’ or audiences’ behaviors, demographics or location, according to its website.

Lotame is planning on using the loan to hire more employees to expand its sales, technology and executive teams, according to a statement.

"We appreciate the support and confidence in Lotame shown by Horizon with its $5.5 million venture loan," said Andy Monfried, Founder & CEO of Lotame, in a statement.  "[Horizon] delivered a financing solution that provides us with the additional liquidity we need to execute our business plan and meet the strong and growing demand for our data management products and services."

The company sells its data management platform to publishers, ad networks and marketers, according to the statement.

Lotame’s Columbia offices are located at 8850 Stanford Boulevard, in an office park off of Snowden River Parkway.

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