Redwood City, Calif. – Evernote, the Redwood City-based developer of a multi-platform tool designed to let users capture information in nearly any environment, said on Friday it has raised $85 million in a new round of funding – its second major round to close this year.
London-based AGC Equity Partners/m8 Capital led the round, which also included participation from Valiant Capital Partners and previous backer T.Rowe Price Associates.
Seventy-five percent of the proceeds are in the form of a secondary investment, with the stock being sold by existing investors and shareholders.
“By giving early shareholders the opportunity to sell some of their holdings, we reduce the pressure to exit while at the same time forging relationships with important new long-term investors who can help shepherd the company to, through, and beyond an eventual IPO,” wrote CEO Phil Libin in a blog post.
Evernote now has raised more than $250 million since its inception, including a $70 million round in May.
This article was also published in Bay Area Tech Wire.
Evernote – http://evernote.com
Evernote blog – Evernote Raises $85 Million in Primary and Secondary Financing