iYogi get series E funding

iYogi Technical Services Pvt Ltd, a Gurgaon and New York-based remote & onsite tech support service company get fresh $28 million on Series E funding. Axon Partners Group, which has a strong presence in Spain, India and Latin America, has joined this round along with Sequoia Capital, DFJ and Madison India Capital and some existing investors, to support iYogi’s growth in these regions through partnerships with telecom companies reports Axon partners

Investment from this round will be used to support iYogi’s growth in Spain and Latin America through partnerships with telecom companies. In December 2010, iYogi had raised $30 million in a Series D round of funding led by Sequoia Capital India.

With its series E investment, iYogi expects to double its revenue in the next 24 months. iYogi recently launched its services in Spain through a partnership with Telefonica and established a service delivery center in the country. This delivery center will also serve as a center of excellence supporting iYogi’s expansion in Latin America.

Sequoia Capital, Draper Fisher Jurvetson, Canaan Partners, SAP Ventures, and SVB India Capital Partners are the venture capital firms that have invested in the company. In 2009, the firm acquired Utah-based Clean Machine Inc.

iYogi is a remote technical support firm based in Gurgaon, India with customers in the United States, the United Kingdom, the United Arab Emirates, Australia, Canada, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and India.

iYogi was co-founded by Uday Challu & Vishal Dhar in 2007. iYogi deploys more than 6,000 technology staff on its global delivery platform, iMantra.

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