SpotXchange Finds $12M

Denver-based SpotXchange, an online video advertising network, said today that it has raised $12M in a financing round. The round came from H.I.G. Growth Partners. SpotXchange, which is headed and was founded by Michael Shehan, said the funding is its first institutional round. The firm will use the funding to further develop its products, and to expand internationally. As part of the funding, SpotXchange said that John Kim and Nik Shah of H.I.G. Growth Partners will join it's board. More information »