$50 Million for Evernote

7/13/11Follow @wroush

Evernote, the Mountain View, CA-based provider of a popular online notekeeping system, revealed today that it has raised $50 million in new funding. Sequoia Capital led the round, which was joined by Morgenthaler Ventures; both were previous backers of the company. Sequoia Partner Roelof Botha, formerly a board observer at Evernote, has assumed a full board seat. In a statement, Evernote CEO Phil Libin said the company isn’t satisified with its current base of 11 million users. “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,” Libin said. “Having this new investment, and Sequoia Capital as a full business partner, will allow us to improve and multiply our products in exciting ways.” The company also said it has hired Ken Gullicksen, formerly a partner at Morgenthaler, to lead its corporate development and acquisition strategy.

Wade Roush is a contributing editor at Xconomy. Follow @wroush

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