Avalon Ventures Gets Exit At Cloudant

San Diego-based venture investor Avalon Ventures has scored an exit this morning, after IBM said it has acquired Boston-based Cloudant, a developer of a NoSQL-based, cloud-based database. Financial terms of the buy were not disclosed. Cloudant had been backed by Avalon Ventures, Devonshire Investors, In-Q-Tel, Rackspace, Samsung, and Toba Capital, and had only raised around $14.0M in funding.