iYogi which is a gurgaon based on-demand consumer tech services company has announced that it has raised $15 million in their 3rd round of funding from investors Draper Fisher Jurvetson. The earlier investors in iYogi are Canaan Partners, SAP Ventures and SVB India Capital Partners. They had raised 3.1 million $ in 2007 from Canaan partners and 9.5 million $ in 2008 from SAP Ventures.
iYogi will use the funds to expand its global team and enhance its service offerings. Currently the company caters to four main geographies in US, United Kingdom, Australia and Canada. In the coming year its plans to increase its global footprint for remote computer tech support. iYogi currently has more than 100,000 annual subscribers. An annual subscription costs about $139 which is about Rs.7000 a year. If you do the math it means their current revenues would be around 70 crore annually which is about 15 odd million dollars.
When asked about the demand for iYogi’s services, Mohanjit Jolly, Executive Director at Draper Fisher Jurvetson India said “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,”
Many Many Congrats To Uday & Vishal….. Its time to throw a massive party.