US-based bank Allen & Company has helped Evernote, a US-based note taking company, raise $70m. The company followed the round closing by buying Penultimate, a handwriting app yesterday, which is the fourth biggest selling application for Apple’s iPad since the US-based technology company began selling them.
The US bank was joined in the series D by mutual fund manager T. Rowe Price Associates, venture firms Meritech Capital and CBC Capital and Harbor Pacific Capital, as well as other investors.
The company’s user base has tripled in the past year to 30 million users, Evernote said.
Evernote was set to raise as much as $100m at a $1bn valuation, news provider Business Insider said earlier this year.
While Business Insider said Evernote had previously raised $95.5m, the US-based company raised $20m in its series C round in October 2010 from a consortium including Japan-based phone group NTT Docomo’s corporate venturing unit.
Venture capital (VC) firm Sequoia Capital had led this C round as a new investor, with participation from existing shareholders, including peer Morgenthaler Ventures, Docomo Capital and Russia-based investment bank Troika Dialog, which reportedly sold its shares earlier this year potentially as part of the round.
In November 2009, Evernote raised $10m from Morgenthaler and Docomo Capital, which had invested $2m, and Troika Dialog. The $6m series A round closed in August 2006.