Nexchange Corp., which has a
patent-pending process that allows brand name retailers to insert customized
storefronts into thousands of relevant content sites, received a $9-million
second round equity financing commitment.
The first phase was closed on Aug. 20, and the remaining funds will be closed
by year-end. The equity infusion comes from a group led by Interprise
Technology Partners LP.Nexchange said it will use the net proceeds from the investment to expand its
sales, marketing and operations.
“We have found more than money, we have found people who add significant
value and see the future of e-Commerce,” said Daniel D. Ross, chairman of
Nexchange.
“Nexchange is exactly the kind of investment our company was established to
find,” said David R. Parker, managing principal at Interprise Technology
Partners. “It has great management, a solid business model and substantial
upside.”
Nexchange said it now offers more than 50,000 name brand products to its
network of more than 3,500 host Web sites representing over 16,000 stores. In
the last 30-days, Nexchange has signed a number of key retail merchants
including shoe selling giant Just For Feet and has also signed an agreement
with MindSpring Enterprises Inc. to become a
preferred e-commerce provider to the more than 55,000 MindSpring Biz
customers.
In addition, Nexchange and LiveUniverse.com, a Rare Medium Group
Inc. company, reached agreement whereby LiveUniverse will integrate the
Nexchange solution as one of the tools offered to more than 60,000 member
sites.
