Remote consumer tech support company iYogi has appointed three new independent directors to its board in a move which seems to be a precursor to its IPO. The company, which has raised over $58 million in four rounds of funding, has appointed Sridar Iyengar, Subhash Lallah and Chandra K Gujadhur.
iYogi had raised $30 million, led by Sequoia Capital India for its series D round of funding in December 2010, and said it was planning a listing in the USA in the next 6-12 months. Its other investors include Canaan, SVB Capital Partners, SAP Ventures and Draper Fisher Jurvetson.
Iyengar, who is also an operating partner at Bessemer Venture Partner's Menlo Park office, is a director with corporate houses such as Infosys, ICICI Bank, Dr Reddy's Laboratories and OnMobile Global, among others. He was a senior partner with KPMG in the USA and the UK, and he has been the chairperson and CEO of KPMG's India operations. He is also a director of the American Indian Foundation.
Subhash C Lallah, Senior Counsel of the Republic of Mauritius, has over 40 years of experience at the Bar. He had been called to the Bar of England and Wales and the Mauritius Bar. He is a director on the boards of Essar Energy Plc., Deutsche Bank Offshore Mauritius Ltd, Vodacom Ltd and Mauritian Eagle Leasing Co Ltd, among others.
Chandra K Gujadhur serves as the managing director of Apex Fund Services in Mauritius. Gujadhur had previously served as a senior partner at Deloitte Mauritius, where he headed its corporate services unit and fund administration group.
"The addition of these independent members to iYogi's board of directors will be invaluable in guiding the course for iYogi's future. At this stage, we were looking for the right mix of experience and individuals who have had demonstrated success in mentoring companies. Sridar, Subhash and Chandra bring that and more through their diverse backgrounds," said Uday Challu, CEO and co-founder of iYogi.