Virtual events tech firm InXpo has raised $9 million in a first round of funding from Highland Capital Partners. The company plans to use the money for tech development and social media initiatives. Founded in 2004, Chicago-based InXpo powers virtual meeting rooms, training courses and expos for companies like P&G, Forbes Media and Cisco.

The founding team includes CEO Malcom Lotzof, President Drew VanVooren, and EVPs Rich Hawkinson and Adam Mankoff. Competitors include Norwest and Sequoia-backed Unisfair, and Linden Lab (which offers the Second Life Grid for businesses that want a self-contained virtual environment). Release.