HIG Growth Partners has sold a majority of its affiliate’s investment in SpotXchange to RTL Group.
SpotXchange is a video advertising platform offering premium publishers holistic yield management in order to maximise revenue for desktop, mobile and connected TV inventory while driving down operational costs.
The company was first to market with its real-time bidding solution for video advertising and has continued to enhance its programmatic publisher solutions to ensure transparency, brand safety and real-time control for its partners.
“HIG has been an exceptional partner to SpotXchange as we have grown and expanded our market offerings,” says Mike Shehan, chief executive officer of SpotXchange. “Their knowledge and company building expertise was invaluable as we expanded our team, technology and geographic reach.”
“The executive and founding team of CEO Mike Shehan and COO/CFO Steve Swoboda is exceptional and has built a tremendous Company from its inception. SpotXchange grew its revenue more than ten-fold during our investment and has deepened its technology and market positioning in that time,” says John Kim, managing director of HIG Growth Partners. “With our continuing investment in the company with RTL Group, we look forward to participating in the company’s continued success.”
Kim will remain a board member of SpotXchange.
