iYogi Inc, a Consumer Tech Support Service which provides Remote Techinical support to clients raised $15Million in third round of funding. The funding was led by Draper Fisher Jurvetson(DFJ) which contributed $9Million and was joined by return backers Canaan Partners, SAP Ventures and SVB India Capital.
Investors were also very amazed with the five-year-old venture’s year-on-year growth for its success in raising capital when most early-stage firms are struggling to generate revenue and are stuck with developing a revenue building plan.
The Press Release says,
“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”
iYogi provides remote technical support to everyone across the globe. Along with remote support it offers loads of tech support services like PC Installation, recovery and maintenance, anti-virus/spyware cleanup, data back-up and PC speed optimization. Its annual unlimited tech support plan starts at $139.99. Most of its tech support services are centered around Microsoft software, but Google and Apple products are also listed on iYogi’s website.
The company was founded in 2005 and is growing rapidly. The company has established a presence in the United States, the United Kingdom, Australia and Canada.
“We are delighted to have support from successful, high-profile venture firms like Draper Fisher Jurvetson along with Canaan Partners, SAP Ventures and SVB India Capital Partners,” said Uday Challu, co-founder and CEO of iYogi. “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.”
The company claims to have seen 300 percent growth in revenues and subscribers since 2008, and it intends to grow the number of Global Tech Experts to 3,000 worldwide in 2010.