Evernote Secures $10 Million in Series B Financing Led by Morgenthaler Ventures
Mountain View, California—November 16, 2009—Evernote, the popular cloud-based service that helps you to remember everything, today announced that it has closed $10 million in new financing led by Morgenthaler Ventures, with participation from prior investors including DOCOMO Capital and Troika Dialog. This latest round of funding will help Evernote continue to evolve and innovate its offerings, introduce versions on more platforms and accelerate user growth in new regions.
Evernote is a free, multi-platform service designed to allow users to easily remember ideas, inspirations and experiences from their daily lives. Since its launch in June, 2008, Evernote has grown to nearly two million users, and has launched native versions of its software for Windows, Mac, Web, iPhone, BlackBerry, Palm Pre, and Windows Mobile. Evernote also offers a paid Premium level of service, which adds additional features including greater monthly uploads with universal file synchronization.
"From day one, our goals have been fairly ambitious: Evernote is creating the trusted way for people across the globe to remember all the notable aspects of their daily lives," said Phil Libin, CEO of Evernote. "With the experience and support of Morgenthaler Ventures, Evernote will be in a position to reach more people in more places more quickly than we had ever planned. Soon, everyone everywhere will reach out their hand, grab the nearest computer or phone, and have instant access to all their memories thanks to Evernote."
"Evernote reached its first one million users at a faster rate than Twitter, and is zeroing in on two million users today. They have created a simple, elegant solution for capturing, organizing and searching enormous amounts of content in a highly intuitive way. Evernote's best advertising has been the service itself. It has grown organically and built an incredibly loyal, passionate user community in the process," said Gary Little, partner at Morgenthaler Ventures.
Evernote is designed to help everyone from artists and lawyers to chefs and students get into the habit of easily capturing their memories. An Evernote user can snap pictures of wine labels at a restaurant, clip travel deals from the Web and create shopping lists to their Evernote notebook. This information will all be instantly searchable on the Web, desktop or from a mobile device. Meanwhile, Evernote's Premium features give users even more benefits from Evernote-allowing for automatic file synchronization, increased storage for notes and sharing and editing capabilities that turn notebooks into instant collaboration tools.
About Morgenthaler Ventures
Morgenthaler Ventures is a premier venture capital firm, dedicated to helping entrepreneurs build valuable companies for more than 40 years. It currently has $3 billion under management, including $400 million in its ninth fund, which was capitalized in November of 2008. Morgenthaler has invested in approximately 300 companies in the information technology and life science sectors. Representative portfolio companies in the IT space include: Evernote, NexTag, Siri, Lending Club, Sezmi, Nominum, JasperSoft, MuleSource, Peregrine Semiconductor, Cortina, Brion, Synopsys, Verifone, Nuance Communications, Apple and NEXTEL. The firm's IT Team is headquartered in Menlo Park, CA.