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iYogi secures $15 million in funding led by Draper Fisher Jurvetson

iYogi, a global on-demand consumer tech services company that provides personalized computer support for consumers and small businesses in US, UK, Canada and Australia, has raised $15 million in Series C funding led by new investor Draper Fisher Jurvetson and participated by existing investors Canaan Partners, SAP Ventures and SVB India Capital Partners.

iYogi, a global on-demand consumer tech services company that provides personalized computer support for consumers and small businesses in US, UK, Canada and Australia, has raised $15 million in Series C funding led by new investor Draper Fisher Jurvetson and participated by existing investors Canaan Partners, SAP Ventures and SVB India Capital Partners. Founded in 2005, iYogi raised $3.1 million and $9.5 million in two rounds of funding in 2007 and 2008, respectively.

The company plans to use the fresh investment capital to enhance services and expand its team of global tech experts. iYogi had revenues of $7.1 million in 2008-2009. The company claims to have over 100,000 annual subscribers. According to iYogi, the company has seen 300 per cent growth in revenues and subscribers and doubled its employee base to 1,200 since 2008. For the next year, iYogi is expecting an additional 300 per cent revenue growth and an increase to 3,000 global tech experts worldwide.

“The surging demand for remote technical services stems from the critical need for computer owners to keep their systems up and running and retailers to differentiate their offerings, particularly as the PC market becomes increasingly commoditized and competitive,” Mohanjit Jolly, executive director, Draper Fisher Jurvetson India, has said. “With its global team of experts, advanced support services and intelligent knowledge platform, iYogi is well-positioned for significant expansion and differentiation in this category, and is partnering with top tier retailers, ISP’s, OEM’s and software vendors to broaden its footprint.”

Uday Challu, co-founder and CEO, iYogi, has said, “iYogi’s progress over the last year is both a strong reflection of the tremendous market opportunity for remote technical services and an indication of iYogi’s momentum in seizing significant market share. We are able to effectively and consistently address and resolve consumer concerns through our unique global delivery model across multiple geographies with the highest resolution rates and customer satisfaction in this growing industry.”

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