News

NewSpring Capital Leads Investment in XOS Digital

Radnor, PA., April 29, 2010 – NewSpring Capital, a leading provider of private equity capital in the Mid-Atlantic region, today announced that it has led an investment in XOS Digital, Inc. (“XOS”) through its growth equity fund, NewSpring Ventures.  Headquartered in Billerica, MA XOS plans to use the proceeds from the offering to fund the ongoing development and enhancement of the XOS Digital Sports Media Distribution Platform. 

NewSpring was joined in this Series B financing by Dublin Capital and existing investors Blue Chip Venture Company and Beechtree Capital.  Also participating in the transaction were several business and industry leaders in the Central Florida region, where the company maintains its operations center.

“XOS is entering a new phase of growth and innovation that required additional growth capital,” said Chris McCleary, CEO, XOS Digital.  XOS was founded in 1999 to provide leading edge design services, technology, and network solutions to NBA teams.  The company has since expanded its sales efforts into football, hockey, and other sports at the professional and collegiate level.

Glenn Rieger, NewSpring General Partner, will represent the firm on the Company’s board of directors.  “Glenn Rieger brings a wealth of targeted experience to our board operations,” said Jack Wyant, chairman of the XOS board and managing partner at Blue Chip Venture Company.

“The growth capital this round is providing will be instrumental in helping the Company to solidify its position as a leading provider of digital content management solutions in the sports industry”, said Rieger.  “Additionally we are very excited by the leadership Chris McLeary brings to the effort as a serially successful CEO.”