E-Commerce Exchange Wins $30M Equity Investment
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This is the first outside investment in E-Commerce Exchange, which said it has been profitable since day one. Summit has previously invested in companies such as McAfee/Network Associates, E-Tek Dynamics and CMGI.
"Summit Partners brings us a wealth of management expertise, numerous strategic relationships and a proven track record of success in helping fast-growing companies like ours achieve their full potential," said Darrin Ginsberg, CEO of ECX.
E-Commerce Exchange, established in the co-founders' garage in 1989, now has more than a dozen sales offices and more than 200 employees. ECX offers its services primarily to Internet-based merchants, including small and home-based businesses, business owners with limited credit, and others considered non-conventional and therefore high-risk by banks.