Released on: August 20, 2008, 5:44 am

Press Release Author: Vishal Dhar

Industry: Computers

Press Release Summary: "Personal Offshoring has created new investment opportunities
in India with incredible growth potential," said Doug Higgins, partner at SAP
Ventures. "It is very exciting to see companies like iYogi challenging the
traditional enterprise-focused offshore-service delivery model by creating a
consumer-focused, direct-to-customer personal offshore model. iYogi is one of the
fastest-growing companies in this market segment, and we look forward to working
with them to create India's next success story."

Press Release Body: iYogi Secures $9.5M in Series B Funding Led by SAP Ventures,
With Follow-on Investment from Canaan Partners and SVB India Capital Partners
iYogi, a Direct-to-Consumer and Small Business Technical Support Provider, Paves the
Way for Personal Offshoring to Become India's Next Success Story

New York, 24 July, 2008: Personal Offshoring, which is driving the next wave of
India's outsourcing success story, got a huge boost today when iYogi - a href=http://www.iyogi.net/tech-support.html>remote technical support provider
from India - raised $ 9.5 million in Series B financing from SAP Ventures, a
division of SAP AG, Canaan Partners and SVB India Capital Partners, a venture fund
affiliate of Silicon Valley Bank.

iYogi (www.iyogi.net) delivers technical support services directly to consumers
and small businesses and is the first, global, technical support brand based out of
India. The company offers its customers an unlimited, annual service subscription
for $119.99 per desktop that includes support for a wide range of technologies,
including PC hardware Microsoft href=http://www.iyogi.net/microsoftoperatingsystem.html>Windows operating
system, software applications, peripherals and multifunctional devices.

"Personal Offshoring has created new investment opportunities in India with
incredible growth potential," said Doug Higgins, partner at SAP Ventures. "It is
very exciting to see companies like iYogi challenging the traditional
enterprise-focused offshore-service delivery model by creating a consumer-focused,
direct-to-customer personal offshore model. iYogi is one of the fastest-growing
companies in this market segment, and we look forward to working with them to create
India's next success story."

"Our focus on the customer experience has helped us achieve a 93 percent
satisfaction rate across more than 50,000 customers," said Uday Challu, CEO of
iYogi. "We are delighted to have the support of three terrific investors as we
increase our market share and continue to provide the best href=http://www.iyogi.net/tech-support.html>technical support experience
possible for our customers."

iYogi will use the funds to fuel its expansion into 12 new regions, including the
United States, the United Kingdom and Canada, and to increase its delivery of new
services including PC recovery, anti-virus/spyware, data back-up and PC
optimization.

"As consumer technologies grow in sophistication, consumers will be seeking the
kind of home IT support services -
including remote services offered by companies such as iYogi - to help them solve
their most complex problems," said Kurt Scherf, vice president and principal
analyst, Parks Associates. "In primary research, we found more than one-third of
consumers are willing to pay for competent and professional remote support services,
and 60% express a strong interest in software solutions - what we refer to as 'PC
Dashboards' - that automate many basic PC performance enhancement and
troubleshooting features, solving many PC-related problems before they even are
noticed by end-users."

iYogi had previously raised $3.1 million in Series A financing from Canaan
Partners and SVB in April of last year. "iYogi is one of the most promising
investments for Canaan Partners," said Alok Mittal, managing director of India at
Canaan Partners. "Third-party, vendor-independent technical support is an exciting
new service category, witnessing explosive growth. Customers are looking beyond the
traditional vendor-provided support to remote channels for better problem
resolution, faster service, and greater overall satisfaction. iYogi has created an
incredible value proposition and price offering for its customers that is hard to
beat."

"Several next generation outsourcing companies from India are delivering a range
of personal offshoring services for individuals and small businesses in the U.S.
including online tutoring, tax preparation, remote executive assistance and research
services," said Suresh Shanmugham, managing director of SVB India Capital Partners,
a venture fund affiliate of Silicon Valley Bank. "iYogi has leveraged the technical
skills available in India along with process expertise to scale as a global
technical support provider for millions faced with increasingly complex technology".

About SAP Ventures

SAP Ventures invests in innovative and disruptive software and services companies
globally. We pursue opportunities across all stages for outstanding financial
return. Our goal is to bring substantial benefit to all parties by facilitating
interaction between portfolio companies and SAP and its ecosystem of customers and
partners. SAP Ventures has a successful track record of building industry-leading
companies by partnering with outstanding entrepreneurs and top-tier venture capital
firms since 1996. For more information, visit www.sapventures.com.

About Canaan Partners

Canaan Partners is a global venture capital firm specializing in early-stage
information technology and life sciences companies. Founded in 1987, Canaan Partners
has $2.4 billion capital under management and has invested in more than 240
companies, completed 63 mergers and acquisitions, and brought over 50 companies
public. The firm catalyzes the development of innovative mobile, Internet,
CleanTech, networking, semiconductor, enterprise software and services,
biotechnology and medical technologies to build next-generation market leaders.
Canaan was an early investor in Acme Packet (APKT), Aperto Networks,
BharatMatrimony.com, Blurb, DoubleClick (DCLK), ID Analytics, Match.com and
SuccessFactors, along with dozens of other market-leading companies. Canaan is
headquartered in Menlo Park, California and also has offices in Connecticut, India
and Israel. For more information visit: www.canaan.com.

SVB India Capital Partners Fund and Silicon Valley Bank

SVB India Capital Partners Fund is a $54 million equity fund that is focused on
Indian companies and co-invests across industries and stages with top-tier venture
capital firms. Silicon Valley Bank is the premier commercial bank for emerging,
growth and mature companies in the technology, life science, private equity and
premium wine industries. Founded in 1983 and headquartered in Santa Clara, Calif.,
the company serves clients around the world through 27 U.S. offices and five
international operations. Silicon Valley Bank is a member of global financial
services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and
SVB Private Client Services. More information on the company can be found at
www.svb.com.

About iYogi

iYogi is the first direct-to-consumer and href=http://www.iyogibusiness.com/>small business technical support service from
India. Providing an annual unlimited subscription to technical support for $119.99
per year, iYogi now boasts more than 50,000 customers. The company employs 450
professionals servicing customers in the U.S., U.K., Canada fast expanding to 12 new
geographies across the globe. iYogi's resolution rate of 87 percent and customer
satisfaction rate of 93 percent are amongst the highest published benchmarks in the
industry. For further information, please visit www.iyogi.net.

SAP and all SAP logos are trademarks or registered trademarks of SAP AG in
Germany and in several other countries. All other product and service names
mentioned are the trademarks of their respective companies.

Any statements contained in this document that are not historical facts are
forward-looking statements as defined in the U.S. Private Securities Litigation
Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect,"
"forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and
similar expressions as they relate to SAP are intended to identify such
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The information contained herein is subject to change without notice. iYogi shall
not be liable for technical or editorial errors or omissions contained herein.