Internet support service firm iYogi, on Monday, said it had picked up $28 million in ‘Series E’ funding from a clutch of investors that includes international investment firm Axon Partners Group.
Primarily focussed on global on-demand software, iYogi provides tech support for consumers and small businesses through its proprietary digital service cloud.
With this new round of investment, according to a statement, the Guragaon-based company expects to double its revenue in the next 24 months as it expands into Spain and Latin America.
Other investors in this round included Madison India Capital and other existing investors of iYogi.
“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,” said Uday Challu, co-founder and CEO, iYogi, in a statement.
“iYogi is our fourth investment in India and we look forward to supporting the team in their expansion ” said Francisco Velaquez de Cuellar , president of Axon Partners Group.