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Electric Raises $90M Series D To Automate It For Small Businesses

Oct 19, 2021•almost 4 years ago

Amount Raised

$90 Million

Round Type

series d

Privacy And SecurityOtherInformation TechnologySoftwareInternet Services

Description

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.

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