Evernote Raises $50 Million

  • July 13, 2011
Another app closes a big funding round. TechCrunch reports Evernote, the start-up behind the popular note-taking app of the same name, will announce securing an additional $50 million in financing in a round led by Sequoia Capital and including Morgenthaler Ventures. The company, which has previously raised $20 million, says it will use the new funding to fuel its expansion, including acquisitions.

With a platform that works across PCs, mobile phones and other connected devices, Evernote boasts 11 million users--up 1 million since June. It's also profitable already, using a freemium business model. Other apps raising big venture rounds recently include Shazam ($32 million), Flipboard ($50 million) and Color ($40 million).--Mark Walsh

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