Venture Capital News: Electric Secures $90M Series D Financing
2021-10-19
NEW YORK,NY, Electric, the leader in providing world-class IT technology for small and medium-sized businesses, today announced it has raised $90M in Series D funding.
Existing investor GGV Capital is leading the round, with participation from existing investors Bessemer Venture Partners, Primary Venture Partners, Greenspring Associates, 01 Advisors, Atreides Management, Vintage Investment Partners and Slack, bringing Electric's total amount raised to over $189M.
Electric is the industry leader in providing world-class IT technology and real-time support for small and mid-sized businesses. With over 700 customers and more than 40,000 employee end-users, Electric's IT platform includes: real-time support powered by 100+ IT technicians, security, device & inventory management, network & server management, application & cloud management, employee on-boarding and off-boarding, procurement & provisioning, and data monitoring & insights. Electric is funded by an all-star team of investors including: Bessemer Venture Partners, GGV Capital, 01 Advisors, Primary Venture Partners, Bowery Capital, Slack, Atreides Management, Vintage Investment Partners, and Greenspring Associates. For more information, visit www.electric.ai.
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