Electric Raises $25M in Series B Funding

Electric logoElectric, a New York-based real-time IT support solution for small and mid-size companies, raised $25M in Series B financing.

The round, which brought total funding raised to date to $38M, was led by GGV Capital with participation from existing investor Bessemer Venture Partners. In conjunction with the funding, Jeff Richards, Managing Partner at GGV Capital, joined Electric’s board of directors.

The company intends to use the funds to further invest in the platform’s core features and across Client Success, Sales and Marketing, Operations and Executive teams.

Founded in 2016 by Ryan Denehy, Electric is an IT support solution for small and midsize offices delivered in real-time. Through a chat and web interface, personalized service and flat-rate pricing, the company’s system enables companies to assess, deploy and manage their technology. Its core package includes troubleshooting, systems administration, security and network management and on-site assistance.
Today, the company serves over 300 customers with more than 10,000 employee end users through its innovative network-to-device level IT support platform.

Electric also announced the expansion of its leadership team with the appointment of:
– Rani Yadav as Chief Operating Officer, and
– David Weiner as Vice President of Sales.



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