India-based computer services company iYogi has raised $30m in its series D round ahead of a reported flotation potentially within the next six months.
SAP Ventures, the corporate venturing unit of Germany-based enterprise software group SAP, reinvested in iYogi, alongside venture capital firms Sequoia Capital India, Canaan Partners, Draper Fisher Jurvetson (DFJ) and US bank SVB India Capital Partners.
In January, iYogi raised $15m in its series C round from DFJ, Canaan, SAP and SVB, after $12.6m across two rounds in 2007 and 2008.
News provider VCCircle said iYogi was planning its initial public offering in the next six to 12 months.
IYogi will use the money to expand its services from consumer market and Microsoft’s Windows operating system to the small and medium-sized companies and mobile consumer devices and into new geographies, including Europe, the Middle East and India.
In the past year, iYogi has tripled its premium annual subscription service, and solved more than 2 million technology problems for consumers since its inception.