Evernote To Raise $50-100 Million Series E At $1 Billion+ Valuation

Cloud-based note storage company Evernote is reportedly raising a huge fifth round of funding from Meritech Capital Partners, a specialist VC fund focused on late-stage ventures. Although Business Insider reported Thursday that Evernote has already completed its fundraising round for $100 million, TechCrunch’s John Constine says the round has yet to close. Meritech is believed to be leading the round and has reportedly dropped a term sheet, but there are not many details related to specific numbers or other investors participating in the round. The financing is expected to take a couple of weeks to go through. The situation is still a little touch-and-go, as no documents have been signed and Evernote’s board hasn’t approved the deal yet. Numbers could always change. According to Evernote’s CrunchBase profile, the company has raised $95.5 million from its angel rounds up through its $50 million Series D in July 2011. Numbers released in December 2011 say the company had 20 million users across Mac, Windows, iOS, Android, web browsers, BlackBerry, and Windows Phone 7, among other platforms. Evernote was named company of the year by Inc Magazine, more than doubles its user base year-over-year and according to Business Insider is adding 40,000 users per day.