Evernote won’t need its own service to remember today’s announcement that it has received a $50 million round of funding led by Sequoia Capital, with participation from Morgenthaler Ventures.
Phil Libin, CEO of Evernote, said the new funding will be applied to an “aggressive” growth and acquisition strategy with the goal of expanding what Evernote can do for its users. Its aim is to make it simple to capture and find information, memories and other content on any platform and on any device.
To help execute those plans, Evernote has hired former Morgenthaler Ventures partner and Evernote board member Ken Gullicksen to lead its corporate development and acquisition strategy. Additionally, Roelof Botha of Sequoia Capital, who previously held an observer position, will become a member of Evernote’s board of directors.
Evernote reports having 11 million users and a worldwide community of over 5 thousand developers building Evernote-integrated applications, services and devices.
“The fast pace of our organic growth, adding more than a million users in just the past month, shows that people really want to manage and simplify their lives,” Libin said. “And even though we’ve built a profitable and successful business in the past three years, we still have a long way to go to achieve our goal of becoming everyone’s second brain. Having this new investment, and Sequoia Capital as a full business partner, will allow us to improve and multiply our products in exciting ways.”
Related links:
Evernote – official site
Evernote – press release
TechCrunch – Evernote Raising $50 Million To $100 Million At A $1 Billion+ Valuation
Business Insider – Evernote Has Completed A $100 Million Round At A $1 Billion Valuation Led By Meritech
