LOS ANGELES — A $5 million increase in its credit facility will help video surveillance solution provider DTT Surveillance enter into more vertical markets.
CapitalSource expanded and extended DTT's credit facility to $20 million. In November 2009, DTT, which supplies surveillance solutions to restaurant and hotel industries, secured $15 million of debt financing from the security lender, according to a press release.
The funding increase is a result of the company more than doubling its subscriber base in the past two years, according to DTT President and CEO Sam Naficy.
"We are pleased to have CapitalSource reinforce its commitment to DTT," he says. "This funding will allow us to replicate our successful restaurant/hospitality model for other ancillary verticals."
CapitalSource Managing Director William Schmidt agrees, noting that tackling the unique needs to its target markets has helped DTT see growth.
"Despite the challenging macro environment, DTT continues to demonstrate strong growth and top-tier customer retention," he says. "They have done an outstanding job, and the results have been compelling. CapitalSource is proud to extend its relationship with DTT."
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