Business, Investments

iYogi raises $5M in Series E

To support its growth in Latin american markets, Gurgaon and US based, remote support company, iYogi has raised USD 5 million from Axon Partners, per an Economic Times report. The company also expects to get its revenue doubled by the end of 2016.

Founded in 2006, iYogi is a global provider of online, subscription-based technical support services for consumers and small businesses. It is operational in the United States, United Kingdom, Canada, Australia, the GCC states and India.

Till date, including the recent investment, it has raised a total of USD 85.6 million in 5 rounds of funding. This includes USD 3.10 million (Series A, 2007), USD 9.50 million (Series B, 2008), USD 15 million (Series C, Jan. 2010) and USD 30 million (Series D, Dec. 2010). It is backed by investors such as Saama Capital, Canaan Partners, SAP Ventures, Sequoia Capital and more.

Recently, it has expanded its services to Spain in partnership with Telefonica. The move aims at establishing a delivery centre in there. This will help the company in supporting its Latin ameerica operations, as well as gain advantage from the strong foothold of Axon Partners in both the places.

Two months back, the company also sold a minority stake to Madison India, a mid-market private equity firm.

Axon Partner Group manages funds of over USD 180 million. It invests across sectors such as healthcare, digital and energy in companies in Latam, Spain and India, in a range of USD 100,000 to 25 million.

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