iYogi Raises $30 Million
Date: Thursday , December 30, 2010
iYogi, the first consumer service brand from India, has raised $30 million in a new round of funding lead by Sequoia Capital. With this investment iYogi will expand services outside the existing consumer market and the Windows Operating System platform. It will provide the company with the capability to extend its platform to the global SME market and also aggressively address the growing need for supporting mobile consumer devices.
iYogi is the world’s largest independent remote consumer tech support company which has driven an impressive 300 percent growth for its premium annual subscription service alone, and solved more than two million tech problems for consumers since its inception. The company’s existing market includes North America, Canada, the United Kingdom and Australia, and with the funding the company has plans to increases its services to other countries in the Europe, Middle East and India. “We have invested significantly in extending our game changing platform-as-a-service delivery model and believe that we have established the new market standard for tech support and related services through a consistent user experience. Our planned expansion includes making our services available in any geography, across any platform, for any device, and at affordable price-points,” said Uday Challu, Co-founder and CEO of iYogi.
“I believe that iYogi will be cited amongst case studies of disruptive business models delivering world-class service to global consumers from India,” said Shailendra Singh, Managing Director of Sequoia Capital India. Apart from Sequoia Capital, iYogi’s existing investors Canaan, SVB Capital Partners, SAP Ventures and Draper Fisher Jurvetson, also took part in this round of fund raising.