Evernote Raises $20 Million From Sequoia Capital

Evernote, the cloud-based platform for note-taking, has raised $20 million in a series C round of funding led by Sequoia Capital. The company’s success makes it the go-to example of the “freemium” business model–its premium product recently started paying for its current day-to-day operations, and there’s still $9 million left over from its B round. CEO Phil Libin aims to use the new infusion of cash to expand into more countries and into corporate and educational markets.