DTT Surveillance Secures $5 Million Increase in Financing from CapitalSource
DTT Surveillance Inc. announced that its lender CapitalSource has expanded and extended its credit facility to $20 million.
In November 2009, DTT Surveillance secured $15 million of debt financing from CapitalSource.
“We have experienced incredible growth over the past two years, having more than doubled our subscriber base. We are pleased to have CapitalSource further reinforce its commitment to DTT and look forward to our ongoing relationship,” said Sam Naficy, president/CEO at DTT. “This additional funding will enable us to replicate our successful restaurant/hospitality model for other ancillary verticals.”
“DTT has done an outstanding job addressing the unique needs of its target markets, and the results have been compelling,” said William Schmidt, managing director at CapitalSource. “Despite the challenging macro environment, DTT continues to demonstrate strong growth and top-tier customer retention. CapitalSource is proud to be extending its relationship with DTT.”
DTT provides video surveillance, as well as loss prevention and managed services focused specifically on the restaurant and hospitality industries. The company’s system integrates business analytics software with surveillance cameras and DVRs to provide operators with actionable business intelligence data.