DTT Secures $60 Million Credit Facility
DTT, Los Angeles, Calif., announced that it increased its credit facility to $60 million, through a round of funding led by Capital One. Capital One Bank served as the lead bank and agent in the transaction, and brought in CapitalSource to complete the funding.
DTT is a leader in digital surveillance and loss prevention solutions for hospitality and retail, and the increased funding will be used to sustain the company’s continued rapid growth over the last few years. In August DTT opened a second office to accommodate a significant increase in staff. DTT is currently ranked No. 24 in SDM’s Top Systems Integrators Report, climbing from No. 34 in 2012.
Sam Naficy, president and chief executive officer of DTT stated, “As we venture into the specialty retail space, targeting convenient stores and small box retail establishments now in addition to restaurants, I expect adoption of our system to continue to climb sharply. I’m excited to close out the year with a very strong fourth quarter.”
Naficy continued, “I am thankful to Capital One Bank for their continued support. They have served as our anchor in this transaction, and were able to bring in CapitalSource as part of the debt structure. These additional resources will help us to continue on our path to further growth.”
John Robuck, senior director, Security Finance, Capital One Bank, said, “We are pleased to support DTT as they bring their digital video surveillance solutions to new markets. This credit facility is a milestone for DTT, and we welcome the opportunity to partner with this industry leader as we continue to expand our commercial and specialty lending business nationwide.”
DTT was founded in 1999 by Sam Naficy, leveraging the power of emerging digital technology to support the needs of a broad base of clientele. Since first launched, DTT has equipped, serviced and supported more than 30,000 clients.
“DTT has built an incredible platform and CapitalSource is please to support Sam and the company as they continue to expand the markets they serve,” added Will Schmidt, managing director of Security Lending Group at CapitalSource.