Evernote has announced a new $50 million round of funding led by Sequoia Capital with participation from Morgenthaler Ventures. The new funds will be utilized for growth and acquisition strategy centred on expanding the company's offerings. Roelof Botha of Sequoia Capital will transition from an observer seat to becoming a full member of Evernote's Board of Directors.
"People are flocking to Evernote and, more importantly, are intensely loyal and active users of the service," said Roelof Botha, Partner, Sequoia Capital. "Phil and his team exemplify what can occur when a compelling and distinctive product that consumers happily pay for, is matched with a rapidly-growing market in mobile computing. Evernote is a true cross-platform, cross-geo service that delights its users everywhere." In order to expand its offering, Evernote has hired Ken Gullicksen to lead its corporate development and acquisition strategy. Prior to joining Evernote, Ken was a partner at Morgenthaler Ventures and served on the board of numerous technology companies, including Evernote.
"It is rare to see a company develop so many high-quality products, rapidly grow its user base into the millions and become profitable in such a short period of time. This is a testament to Evernote's leadership and team," said Ken Gullicksen, VP of Corporate Development. "With the right strategic decisions, Evernote is in a position to go from popular app to fundamental technology. I am thrilled to come on board and be a part of the company's next phase."
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