A blog post by Evernote CEO Phil Libin said 75 per cent of the capital came in the form of secondary investments, with the rest going to the company in a primary round.
T Rowe Price Associates was among existing investors to re-invest in the business, which said it still has no exit strategy and wanted to give existing investors the chance to gain liquidity.
Evernote previously closed a $70m financing round in May from T Rowe Price, Meritech Capital, CBC Capital, Harbor Pacific Capital and Allen & Co.
Prior to that it gathered a $50m Series D round in July last year, and previous rounds of $20m, $10m and $6m.
Troika Ventures, the first institutional investor in Evernote, made more than 10-times its initial investment when it sold its stake to Sequoia Capital in February this year.
Libin said, “As we’ve talked about in the past, there is no exit strategy at Evernote. Our goal is to build a permanently meaningful and enduring company; a hundred year startup.
“In order to accomplish this, we have to separate liquidity from exit. This latest round is another step on this journey.
“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.”
Copyright © 2012 AltAssets