Total amount raised
$290 Millions
Latest funding date
11/1/2014
Location
Evernote has successfully raised significant funding through multiple rounds, including a Series E round in November 2014. The platform offers a comprehensive suite of tools designed to help users organize their notes, tasks, and schedules efficiently.
Keep reading to explore the intricacies of Evernote's fundraising journey and the investors backing this innovative platform.
What Is Evernote?
Evernote, founded on February 29, 2000, in Redwood City, California, is a versatile note-taking and organization platform. The company was established by Phil Libin and Stepan Pachikov, aiming to help users capture, organize, and find information across multiple devices.
With a workforce of 251-500 employees, Evernote offers a suite of tools designed to enhance productivity. These include note-taking applications, task management features, calendar integrations, and AI-powered search capabilities.
Evernote's mission is to help individuals and teams work more efficiently by providing a seamless experience for managing notes, tasks, and schedules. The platform supports various content types, including text, images, audio, and PDFs.
How Much Funding Has Evernote Raised?
- Series A
- Amount Raised: $26M
- Date: September 2009
- Lead Investors: DoCoMo Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach a broader audience.
- Series B
- Amount Raised: $10M
- Date: November 2009
- Lead Investors: Morgenthaler Ventures, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series C
- Amount Raised: $20M
- Date: October 2010
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product development.
- Venture Round
- Amount Raised: $50M
- Date: July 2011
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the user experience.
- Series D
- Amount Raised: $70M
- Date: May 2012
- Lead Investors: CBC Capital, Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product suite and enter new markets.
- Secondary Market
- Amount Raised: $85M
- Date: November 2012
- Lead Investors: m8 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series E
- Amount Raised: $20M
- Date: November 2014
- Lead Investors: Kortschak Investments L.P., Nikkei
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for growth and form strategic partnerships.
Total Amount Raised: $281M. Current Valuation: Not publicly disclosed.
Key Investors
- Nikkei
- Details: Nikkei is a Japanese media conglomerate known for publishing the influential financial newspaper Nikkei and the English-language Nikkei Asian Review.
- Investment Focus Areas: Media, publishing, financial news.
- Notable Investments: Not publicly disclosed.
- Kortschak Investments L.P.
- Details: Kortschak Investments L.P. is a private investment firm that focuses on venture capital and private equity investments.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that has funded companies like Apple, Google, and LinkedIn.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Apple, Google, LinkedIn.
- CBC Capital
- Details: CBC Capital is a private equity firm that invests in growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Not publicly disclosed.
- Meritech Capital Partners
- Details: Meritech Capital Partners is a leading growth-stage venture capital firm that invests in technology companies.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Facebook, Salesforce, Tableau.
What's Next for Evernote?
Evernote's partnership with Nikkei opens up a significant opportunity to enhance user engagement through content integration. With 20% of its users and 30% of its revenue coming from Japan, this collaboration could further solidify its presence in the Japanese market. The integration of Nikkei’s articles into Evernote Context is expected to boost user interaction and retention.
Looking ahead, Evernote is considering an IPO, which could provide substantial fundraising opportunities. This move would enable the company to scale its operations and explore new markets. However, challenges such as seamless content integration and maintaining a competitive edge in a crowded market remain. Adapting to diverse cultural and market dynamics will be crucial for sustained growth.
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