Avalon Ventures Backs Teambox

San Diego-based venture investor Avalon Ventures is the lead investor in a round for a developer of cloud-based, business collaboration software today. According to Teambox, which was founded in Barcelona, Spain, and which is setting up headquarters in Redwood City, it raised $5M in a Series A led by Avalon Ventures, and which also included the Data Collective Fund. The company says it has now raised $7M for the company, including an earlier seed funding. Avalon's Rich Levandov was involved in the funding effort. More information »