Welcome!

News Feed Item

Axon Partners Group Invests in iYogi’s USD 28 Million Series E Capital Raise

International investment firm, Axon Partners Group, has invested in iYogi, a global leader in on-demand tech support for consumers and small businesses, bringing the total raised so far in this Series E financing round to USD 28 million.

Axon Partners Group, which has a strong presence in Spain and Latin America, has joined this round along with Madison India Capital and some existing investors, to support iYogi’s growth in these regions through partnerships with telecom companies.

Francisco Velázquez de Cuéllar, President of Axon Partners Group comments, "Axon is very pleased to be working with iYogi, further expanding our technology portfolio in India. We have been impressed by iYogi’s technology, energy and professional management. Technology is one of the hot investment areas and is one of Axon’s core investment focuses worldwide, so we believe that iYogi represents a great opportunity for our investors.”

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.

“It’s great to have Axon Partners Group on board, as their presence will help accelerate our expansion into Latin America. Spanish is the 2nd most popular language across the globe and key markets across the Latin American region are witnessing rapid growth in devices, which presents a tremendous growth opportunity. We plan to initially focus on the four geographies in this region. It’s great to have the right investors backing us as we change gears,” says Uday Challu, co-founder and CEO, iYogi.

At the core of iYogi’s expansion strategy lies the Digital Service Cloud*, its proprietary technology platform which can help telecom companies capture a share of the global cloud computing opportunity estimated by Forrester to be $250 billion by 2020. Telecom companies can generate new revenues through SaaS based premium support services aimed at consumers and small businesses in partnership with iYogi.

Axon Partners Group, an emerging markets specialist, manages over USD 180m in funds worldwide, with The India Opportunities Fund (Gurgaon, Delhi) being one of its largest, through which it is has recently invested in JustEat India. Axon is perfectly positioned to support iYogi and other Indian SMEs in their international expansion due to its on-the-ground presence and experience in geographies such as Latin America, Europe and the U.S. Axon plans to increase its investment activity throughout 2014, concentrating on companies in the growth or expansion stages in the healthcare and technology sectors.

Francisco Velázquez de Cuéllar adds, “iYogi is our fourth investment in India and we look forward to supporting the team in their expansion into new business verticals across the different geographies, specially Europe, Latam and some African countries. We have experience working with various large telecommunication operators worldwide which also provides an added advantage to iYogi’s business plans going forward.”

Note to editors:

*About the Digital Service Cloud

Core to iYogi’s expansion is its proprietary global delivery platform called the Digital Service Cloud. Digital Service Cloud is the foundation of the iYogi service, and is currently deployed across 12 centers in India, Philippines and United Kingdom. More than 5000 Tech Experts use the Digital Service Cloud today to serve users across 10 countries. It facilitates automation and collaboration across multiple skills, competencies and delivery models (remote and onsite), and also allows the company to capture and replicate learnings from every request that is serviced, leading to continuous innovation and improvements in the quality of service delivery. Digital Service Cloud’s hosted solution can be deployed across multiple contact centers, and with its embedded processes and best practices the platform offers out-of-the-box integration with existing systems including ERP, telephony and analytics.

Digital Service Cloud has a proven capability to increase customer lifetime and value, and can generate operating income between USD 15 and USD 20 for every customer interaction. By using Digital Service Cloud telcos, technology retailers, OEMs and global service providers or BPO companies can not only use support as a channel for new revenues, but also expand their business by adding tech support services.

About Axon Partners Group

Axon Partners Group is an international Investment, Corporate Development and Consulting firm, specialised in global emerging markets. Created by entrepreneurs with vast business development and financial experience, Axon has grown to become a team of over 35 experts, worldwide.

Axon Partners Group Investment has a winning combination of a global presence, partnered with local expertise. We manage over USD 180M in Funds and invest in companies in Latam, Spain and India. Axon has a proven track record of success in sectors like energy, healthcare and digital economy. We invest from USD 100k to 25m. See www.axonpartnersgroup.com or follow @AxonPG for more information.

About iYogi

iYogi is a global on-demand software and services company that provides software and comprehensive tech support for consumers and small businesses in the United States, United Kingdom, Canada, Australia, Spain, the GCC states and India. iYogi’s proven global delivery model, including the proprietary Digital Service Cloud and highly qualified technicians, is designed to manage the increasing dependency on complex technology for consumers and businesses. Telcom providers and technology companies are turning to iYogi to improve customer satisfaction, reduce return rates, and deliver a compelling new value added offering to customers. iYogi’s service covers more than 500+ products including software, hardware and peripherals. Customers can rely on iYogi for the setup, installation, networking, syncing, diagnostics, repair, security, optimization, and usability assistance for the technologies they use every day. iYogi is recognized as one of the ‘most innovative’ companies by Inc. Magazine’s ‘Innovative 100’ Awards in 2013 and amongst the top three of Deloitte’s 50 Fastest-Growing Companies in India in 2010.

For more information on iYogi, visit www.iyogi.com

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Jo Peterson is VP of Cloud Services for Clarify360, a boutique sourcing and benchmarking consultancy focused on transforming technology into business advantage. Clarify360 provides custom, end-to-end solutions from a portfolio of more than 170 suppliers globally. As an engineer, Jo sources net new technology footprints, and is an expert at optimizing and benchmarking existing environments focusing on Cloud Enablement and Optimization. She and her team work with clients on Cloud Discovery, Cloud ...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
Everyone wants the rainbow - reduced IT costs, scalability, continuity, flexibility, manageability, and innovation. But in order to get to that collaboration rainbow, you need the cloud! In this presentation, we'll cover three areas: First - the rainbow of benefits from cloud collaboration. There are many different reasons why more and more companies and institutions are moving to the cloud. Benefits include: cost savings (reducing on-prem infrastructure, reducing data center foot print, redu...
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busi...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.