"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," Phil Libin, CEO of Evernote said in a statement.
Ken Gullicksen, vice president of corporate development of Evernote, will head the development and acquisition strategy.
Since the software company's inception, Evernote has grown to 11 million users--adding a million in the past month. Evernote lets you save anything you'd like from a business card to a picture. Just record everything, so when you want to recall it, you can just search it later. Evernote uses a freemium business model. While most use the free service, the conversion rate from free to paid accounts has been better than planned.
It is a cross-platform technology that lets users have access to their work on any tablet, phone or computer. The company says it also has a developer community of more than 5,000.
Sequoia partner Roelof Botha, who has joined the Evernote board as a full member, said in a company blog post that "some of the money will go to long-term investors and shareholders. The rest we'll spend on improving and expanding our products." The previous round of funding was $20 million in October, but most of the money is still "sitting in the bank."
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