Alternative asset manager AGC Equity Partners, via its mobile-focused venture capital affiliate m8 Capital, has led an $85m round of financing into note-taking technology developer Evernote, which is backed by thr corporate venture. There was also participation from Valiant Capital Partners, a $2.7bn global equity hedge fund and existing investors including investment management firm T Rowe Price Associates.
This latest round of funding takes the total raised by Evernote, which was founded in 2007, to more than $247m. Earlier this year Evernote closed a $70m D round which included participation from Meritech Capital, CBC Capital, T Rowe Price Associates, Harbor Pacific Capital and Allen & Company. In 2010 Evernote closed a $10m C round led by venture capital firm Sequoia Capital, also backed by Japan-based phone group NTT Docomo’s corporate venturing unit Docomo Capital, and in 2009 Evernote raised a $10m B round led by Morgenthaler Ventures. A $6m A round closed in 2006.
Evernote, which is now valued at $1.1bn, says that 75% of their money comes in the form of a secondary investment, with existing shareholders selling stock.
Russia-based investment bank Troika Dialog reportedly sold its shares in Evernote earlier this year.