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SwapTree Inc. has raised $4.7 million, part of a planned $6 million equity financing round, the company reports in a regulatory filing posted today.
Located in Boston, SwapTree publishes an online bartering service that lets users trade media, such as books, CDs and video games. The new cash brings SwapTree’s total investment to at least $7 million. The company last took financing in 2008 — a Series C round it closed with Safeguard Scientifics Inc. (NYSE: SFE), a Pennsylvania-based venture firm.
The company was founded in 2004 by Greg Boesel and Mark Hexamer, who earlier had worked together on a legal-industry IT startup called Sidebar Software Inc.
Boesel declined to comment. He referred questions to a spokesman, who could not be reached in time for this article.
Today’s regulatory filing did not identify any additions to SwapTree’s board of directors, where Erik Rasmussen and Mark Mitchell represent Safeguard.
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