Canaan Partners Leads $3 M Investment in iYogi

Company News

NEW DELHI, April 27

Canaan Partners, a major international venture capital firm, announced that it has made a joint investment of $3.1M with SVB Financial Group to fund iYogi, a computer support startup company based in India. iYogi provides live computer support on the phone and via remote access for home and small businesses. The investment will be used to expand iYogi’s service offerings, sales and marketing programs, and to enhance delivery operations in India. Alok Mittal, Canaan’s Executive Director – India, was named to the iYogi board of directors.

This latest investment in iYogi further highlights Canaan’s ongoing commitment to early-stage technology deals in India. Canaan previously invested in BharatMatrimony, the largest online matrimonial service in India. This is the first joint investment between Canaan and SVB Financial Group.

Commenting on the investment, Deepak Kamra, General Partner at Canaan Partners in Menlo Park, said, “iYogi’s service offering is highly efficient and economical in that it provides very skilled technicians to help diagnose and resolve computer problems that occur across a wide range of different manufacturers’ components and platforms. The company has great traction and we’re confident that this investment will allow iYogi to continue growing and expanding its customer base.”

“iYogi combines its proprietary technology with skilled technicians based in India to deliver a high quality, personalized service at an incredibly competitive price point. Our customer approval rating and resolution percentages are amongst the highest published benchmarks in the industry,” commented iYogi President Vishal Dhar. “Canaan Partners and SVB Financial Group are both ideal partners for iYogi,” he added.