SOURCE: InXpo

InXpo, the leading provider of virtual events that connect, educate and engage your audiences

September 14, 2009 08:58 ET

InXpo's Explosive Growth Making Virtual Events a Reality

Leading Provider of Virtual Events Secures $9 Million in Funding to Expand Market Leadership and Drive Innovation in Virtual Events Industry

CHICAGO, IL--(Marketwire - September 14, 2009) - InXpo (http://www.InXpo.com), the leading provider of privately-branded virtual events and virtual business environments, today announced that it secured $9 million in first-round funding led by Highland Capital Partners. This funding will drive InXpo's continued market leadership worldwide, by providing a highly-scalable organization and platform that delivers a seamless virtual experience based on cutting-edge social media technologies for the company's rapidly-growing customer base.

Since its inception in 2004, InXpo has focused on delivering high-performance, scalable and engaging virtual events to a core group of publishing and corporate accounts. "We have always known that continuously increasing travel costs and related inconveniences, combined with rapidly improving social media technologies, would make the adoption of virtual events a force of nature rather than a question. The current economic landscape has fueled this transformation and as a result, InXpo is accelerating the delivery and robustness of its platform to deal with the related surge in demand for its products and services. At a time when most businesses are scaling back, InXpo is growing rapidly to meet the demands of these companies who are seeking to maintain critical customer relationships and employee training and communications by either going virtual or adding a virtual component to their physical meetings. In two years time, there will not be a single physical meeting or event that does not have a virtual component to it," said Malcolm Lotzof, CEO of InXpo.

Recognized as the virtual events industry leader, InXpo has successfully delivered over 600 virtual events to over 500,000 unique individuals worldwide. In addition to serving brand-name organizations like AAA, Cisco, Procter & Gamble and SAP, InXpo counts a majority of business-to-business publishers like Forbes Media, PennWell, TechTarget and Ziff Davis Enterprises as customers. The company's industry-first partnerships with George P. Johnson, an experiential marketing agency, and Maritz, a leader in creating effective meetings, events and incentive programs, have further accelerated the market adoption of virtual events.

"Cisco Systems has made the InXpo Virtual Event platform a core part of our virtual event strategy based on its functionality, scalability and ability to deliver both small and complex events. To date we have used the InXpo platform to host virtual components of our 'Cisco Partner Summit,' our 'Cisco Live' event and today our completely virtual Global Sales Event (GSX) with more than 20,000 attendees from 89 countries spanning the world across all 24 time zones. GSX itself bears witness to Cisco's commitment to employ virtual events across the company, wherever possible," stated Kelly Graham, Manager, Virtual Events, Cisco.

"Virtual events and environments have gone from being a trend to a 'must-have' for global enterprises and publishers," added Peter Bell, General Partner, Highland Capital Partners. "InXpo is at the forefront of the market with their cutting-edge technology that makes Virtual Events and Communities a reality and an integral part of business plans going forward."

About InXpo Inc.

InXpo is the leading provider of privately-branded virtual events and virtual business communities that connect, educate and engage audiences. InXpo's full suite of solutions includes Virtual Trade Shows, Virtual Career Fairs, Virtual Corporate Events and Virtual Business Communities, as well as Audio and Video Webcasts. These virtual solutions dramatically reduce travel time and related costs, in addition to making the world a greener place to live. By using our privately-branded virtual events, InXpo enables organizations to cost-effectively communicate with their worldwide communities for lead generation, peer-to-peer networking, training, internal and external communications, as well as generate new online revenue opportunities. InXpo has delivered over 600 successful virtual events and experiences for global customers and publishers including AAA, Cisco, Forbes, PennWell, Procter & Gamble, TechTarget and Ziff Davis Enterprises. The company is headquartered in Chicago. For more information, visit http://www.inxpo.com.

About Highland Capital Partners

Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional communications, consumer, digital media, healthcare and information technology companies. With over $3 billion of committed capital and offices in Boston, Silicon Valley, Shanghai and Geneva, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, CheckFree, Conor Medsystems, lululemon athletica, Lycos, MapQuest, Navic Networks, Ocular Networks, P.A. Semi, Quigo, Starent Networks, Sybase, Telica and VistaPrint. For more information, visit Highland's web site at www.hcp.com.

Contact Information

  • Media Contacts:

    Eileen Casey
    InXpo
    312-962-3756
    ecasey at InXpo dot com

    Cece Salomon-Lee
    InXpo
    415-608-0302
    cece at InXpo dot com