Welcome!

Mobile IoT Authors: Elizabeth White, Pat Romanski, Janakiram MSV, Shelly Palmer, Laureen Fagan

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.

@ThingsExpo Stories
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effic...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and ...
SYS-CON Events announced today that CHEETAH Training & Innovation will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CHEETAH Training & Innovation is a cloud consulting and IT training firm specializing in improving clients cloud strategies and infrastructures for medium to large companies.
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and thei...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...