Swaptree.com announced a $6 million financing round led by Safeguard Scientifics to be used to hire new employees and for marketing initiatives, bringing Swaptree.com's total capital raised to date to $11.95 million. The company also announced that Jeff Bennett has been named Chief Executive Officer, and Carl Schwartz has been named Vice President of Marketing.

Swaptree.com allows consumers to swap books, CDs, DVDs and video games. In 2009, Swaptree.com members conducted more than one million swaps on the site, saving members $5,549,058 and enabling members to reduce their carbon footprint by 5,011,078 pounds, according to the company.

Bennett said, "Swaptree.com is poised to become synonymous with the category of "online swap" in the same way eBay has become synonymous with "online auctions.""