Cloud computing pioneer Evernote recently announced the close of its Series B financing round, to the tune of USD 10 million and led by Morgenthaler Ventures. The round was joined by Series A investors Troika Dialog and DOCOMO who contributed a combined USD 6.5 million in the first round. Evernote plans to use the new funding to help expand its current services through local language translations and multiple platform options.
Founded in 2004, Evernote is an American technology company which utilizes cloud computing to provide clients the means to capture and store an almost limitless amount of digital information. Evernote is a privately-held company that promotes its product that allows users to use notes, pictures and memory aids to assist its customers with information overload.
The basic Evernote service is free, but limited, and customers can purchase additional features and storage space for a minimal fee. The company operates from facilities in Mountain View, CA, producing their software which is currently available for the Windows and Mac environments, a limited number of mobile devices, and web-based applications.
Morgenthaler Ventures (www.morgenthaler.com)
California-based Morgenthaler Ventures is a private equity and investment firm founded in 1968. The firm’s nine funds have invested in more than 300 information technology and life science companies including such famous names as Apple, NEXTEL, JasperSoft, and Verifone. Morgenthaler prefers Series A opportunities ranging from USD 5 million to USD 20 million but is willing to take on promising Series B projects as well. Currently the firm claims USD 3 billion in assets under management including its ninth fund capitalized in 2008, the USD 400 million MVP IX fund.
Troika Dialog (www.troika-dialog.com)
Founded in 1991, Troika Dialog is a privately owned investment bank in Russia providing service in the areas of investment banking, alternative investments, personal wealth and asset management, retail distribution and securities trading. With more than 1,300 employees, including 109 employee-owners, Troika operates in 20 Russian cities as well as Almaty, Kyiv, Nicosia, London, and New York.