Thursday, March 14, 2013

OCZ Technology Lands $30M Venture Loan

San Jose-based solid state disk drive maker OCZ Technology Group has scored a $30M loan and security agreement with venture lender Hercules Technology Growth Capital. The two firms said the agreement includes both a $15M term loan, and a $15M revolving loan facility. Terms of those loans were not disclosed by the companies. OCZ said it will use the funding to strengthen the business, fund future growth, and support emerging opportunities in the enterprise market; the new facility replaces an earlier credit facility from Wells Fargo.