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Electric Raises $40M From Greenspring Associates to Redefine IT Support

Feb 23, 2021•over 4 years ago

Amount Raised

$40 Million

Privacy And SecurityOtherInformation TechnologySoftwareInternet Services

Description

 Electric, the industry leader in providing world-class IT technology and real-time support for small and medium-sized businesses, today announced it has raised $40 million in Series C funding. Greenspring Associates is leading the round, with participation from Electric's existing investors including Bessemer Venture Partners, GGV Capital, 01 Advisors and Primary Venture Partners and new investors Atreides Management and Vintage Investment Partners, bringing the total amount raised to over $100 million.

Company Information

Company

Electric

About

About ElectricElectric is the industry leader in providing world-class IT technology and real-time support for small and mid-sized businesses. With over 400 customers and more than 30,000 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.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech