Tuesday, December 11, 2007

Smilebox Raises $7M in Series B Funding

Smilebox Inc., a developer of digital scrapbooking software, reported Tuesday that it has concluded its second round of venture financing after collecting some $7 million. The Redmond, Wash.-based business credited Bessemer Venture Partners with leading the effort and noted that first-round investor Frazier Technology Ventures also participated. Smilebox said it will apply the new monies toward international expansion and toward extending syndication and promotional partnerships. As a result of Bessemer Venture's contribution, Rob Stavis, a managing partner with the firm, has been named to Smilebox's board of directors. Smilebox was founded in 2005 by Andrew Wright. More information »