Evernote Raises $70 Million Financing Round Led By Meritech Capi


New Investment to be Used for Strategic Acquisitions and Expansion into New Markets

China Broadband Capital Partners has taken a 23 per cent stake in a Hong Kong-listed mainland media firm as part of the private equity fund's strategy to invest in sectors that will leverage broadband technology and media.
Mountain View, Calif. – May 4th, 2012 – Evernote, the company that's helping the world remember everything, announced a $70 million Series D investment led by Meritech Capital and CBC Capital, with participation from T. Rowe Price, Harbor Pacific, Allen & Company, and several other investors. The round of financing will help Evernote grow its user base in new regions, expand its offering into new verticals and enable the company to make strategic acquisitions.
Evernote is a unified collection of apps that help people remember everything, get things done and communicate effectively. The company's user base has tripled in the past year to reach 30 million users.
"Our goal is to build Evernote to be a hundred-year company that delivers a lifetime of value to our users," said Phil Libin, CEO of Evernote. "This financing provides a solid step in this direction by allowing us to build better products, grow our international presence and expand the platform with strategic acquisitions. We are honored to have the guidance and support of such an experienced group of investors."
"It's rare that we encounter companies like Evernote. They have an incredible product, a fantastic team, an adoring user base, a long-term vision, and a durable business model," said Craig Sherman, managing director of Meritech Capital. "They're already the greatest productivity success story of the past several decades, and they're only getting started. The company is perfectly positioned to actively enter new verticals, new categories and new regions. We're thrilled to be a part of Evernote's next stage of growth."
As part of this investment, Craig Sherman of Meritech Capital; Edward Tian of CBC Capital; and Henry Ellenbogen of T. Rowe Price have joined Evernote's Board of Directors as observers.