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iYogi Nets $9.5M Series B From SAP Ventures, Canaan & SVB

20 August, 2008

iYogi, a Gurgaon-based remote technical support provider, has raised $9.5 million in Series B financing from SAP Ventures, a division of SAP AG, Canaan Partners and SVB India Capital Partners, a venture fund affiliate of Silicon Valley Bank.

SAP Ventures joins the existing set of investors Canaan partners and SVB India Capital Partners which earlier invested $3.1 million as series A financing in the computer support start-up. iYogi will use the funds to fuel its expansion into 12 new regions, including the United States, the United Kingdom and Canada, and to increase its delivery of new services including PC recovery, anti-virus/spyware, data back-up and PC optimisation.

In a press note issued from the company, Uday Challu, CEO of iYogi said that their focus on the customer experience has helped them achieve a 93 percent satisfaction rate across more than 50,000 customers.

iYogi provides live computer support (24/7) on the phone and via remote access for home and small businesses. The company’s technical support executives, sitting in their office in Gurgaon, near Delhi, will try to solve the computer maintenance problems of homes and small offices in India and globally for a fee. They charge $119.99 for an annual subscription or unlimited incidents. The company offers its customers an unlimited, annual service subscription for per desktop that includes support for a wide range of technologies, including PC hardware Microsoft Windows operating system operating systems, software applications, peripherals and multifunctional devices.

The Series B financing means this model is working.


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iYogi Nets $9.5M Series B From SAP Ventures, Canaan & SVB

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