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New Delhi, April 25, 2007
Canaan Partners Leads $3.1 M Investment in iYogi
Canaan Partners and Silicon Valley Bank invest in iYogi to Build Next Generation of Computer Support Services from India
iYogi (iYogi Holdings Limited), provider of live computer support on phone and via remote access from India for home and SOHO (Small Office Home
Office) users announced that the company has raised $3.1 Million in Series A financing.more... |
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| ALOK MITTAL |
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Canaan's Executive Director - India, was named to the iYogi board of directors.
Alok Mittal joined Canaan as an Executive Director in March 2006 to establish its India operations. In India, Alok focuses on building companies in the fast-growing wireless, technology and Internet domains.
A successful entrepreneur and founding member of Band of Angels India, Alok also seeks to foster the development of new global technologies in India. Most recently, he led the technology practice at Baring Private Equity Partners, India, where he focused on IT products and services, BPO, Internet and Telecom. Prior to Baring, Alok was Co-founder of JobsAhead.com, a leading web-based recruitment business. Alok was instrumental in the acquisition of JobsAhead by Monster.com, the global leader in online recruitment. He also brings strong Telecom experience to Canaan having worked for Hughes Software Systems, the premium provider of telecom software services and systems in India. He serves on the Board of Directors of Bharat Matrimony.
Alok holds a Bachelors degree in Computer Science and Engineering from the Indian Institute of Technology, Delhi and a Masters degree in Computer Science from the University of California, Berkeley. |
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| 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. |
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| SVB Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, SVB Silicon Valley Bank provides a level of service and partnership that measurably impacts its client's success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and three international operations. SVB Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Alliant, SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com. |
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| 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. |
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