Electric, the first platform to provide an automated, intelligent IT support channel for small and mid sized corporate customers announces today that the company has raised $2 million dollars. The seed round was led by Bowery Capital and includes significant participation from Primary Venture Partners. Charge Ventures, tech law firm Gunderson Dettmer and digital agency Anchor Worldwide also participated in the financing.
Mike Brown Jr. from Bowery Capital, Brad Svrluga from Primary Venture Partners and multi-time entrepreneur Rudd Davis will be joining the Board of Directors alongside founder and CEO Ryan Denehy. Founded in August 2016, Electric uniquely allows small and mid sized corporate customers to get fast, efficient IT support across their organizations directly through Slack. Significantly reducing day-to-day IT time spend and providing intelligent recommendations for software and system upgrades.
'Millions of businesses of all sizes, in all verticals around the world are moving to a lightweight cloud infrastructure. When the need arises to troubleshoot, fix or update your core systems, it has traditionally been a time-consuming, tedious and expensive process to do so,' says CEO and Founder Ryan Denehy. 'Electric provides the tools, technology and solutions to keep your systems running smoothly and efficiently, and your team focused on getting real work done. Not only do I believe this will transform the $180B IT support industry, but ultimately this will provide a more productive and seamless experience between users and their software.'
Central to Electric is the real-time chat interface, which provides users with the ability to get assistance with issues pertaining to their Apple devices, email, calendar, networking, backup and OS the moment they encounter a problem. Electric will also provide additional system monitoring, management, and insights. 'We're building technology that allows us to flip the current support model on it's head, and in time begin offering prescriptive solutions to our customers. That long-term vision of getting in front of core technology problems before you have them is extremely exciting, and we've developed a concrete path to get there,' says Chad W Pry, Vice President of Engineering.
'Ryan and the Electric team are building a comprehensively reimagined user experience that we expect will reinvent the universally despised IT support industry. We are ecstatic to support Electric as investors, and equally excited to experience it as customers,' says Brad Svrluga, Co-Founder and General Partner at Primary Venture Partners.
Electric is currently launching out of stealth on December 1st with several high-profile corporate customers. 'The response from businesses we talk to has been overwhelming. It underscores the demand that exists for solving such a widespread pain,' says Vice President of Revenue, Bill Tyndall.
Electric is born from the vision of CEO Ryan Denehy, an entrepreneur with a track record of building scalable, capital-efficient businesses resulting in multiple public-company exits. Ryan was most recently co-founder and EVP Sales of Swarm Mobile (acquired by Groupon), a developer of retail analytics devices and software. Prior to that, Ryan held senior management positions at BNQT Media Group (acquired by USA TODAY). Electric board member Rudd Davis founded BNQT and co-founded Swarm Mobile with Ryan.
'Ryan's background and vision for transforming the IT services landscape is what drew us to Electric,' states Mike Brown Jr., Founder and General Partner at Bowery Capital. 'Electric's approach is totally aligned with the direction of the market, and now is the time to act on it. We're thrilled to be supporting this team and company.'