What is Electric AI?
Founded in 2016 and headquartered in New York City, Electric AI offers a comprehensive, all-in-one IT support solution designed to streamline operations for small and midsize businesses. The company's platform aims to simplify IT management, providing a centralized system for support, security, and device management. By consolidating these essential IT functions, Electric AI empowers businesses to focus on their core objectives without the burden of complex IT infrastructure.
How much funding has Electric AI raised?
Electric AI has raised a total of $208.8M across 8 funding rounds:
Angel/Seed
$2M
Private Equity
$1M
Series A
$9.3M
Series B
$25M
Other Financing Round
$14.5M
Other Financing Round
$7M
Series C
$40M
Series D
$110M
Angel/Seed (2016): $2M with participation from Gunderson Dettmer, Primary Venture Partners, Bowery Capital, and Charge Ventures
Private Equity (2017): $1M, investors not publicly disclosed
Series A (2018): $9.3M supported by Primary Venture Partners, Bowery Capital, and Bessemer Venture Partners
Series B (2019): $25M featuring GGV and Bessemer Venture Partners
Other Financing Round (2020): $14.5M backed by 01 Advisors
Other Financing Round (2020): $7M with participation from Slack Fund and 01 Advisors
Series C (2021): $40M led by Greenspring Associates Inc, Primary Venture Partners, Bessemer Venture Partners, 01 Advisors, and GGV Capital
Series D (2022): $110M supported by Greenspring Associates, GGV Capital, Bessemer, Harmonic Growth Partners, and Primary Venture Partners
Key Investors in Electric AI
GGV Capital
GGV Capital is a global venture firm that invests in seed-to-growth stage companies across Social/Internet, Enterprise Tech, and Smart Tech sectors. They have a track record of backing innovative companies worldwide.
Primary Venture Partners
Primary Venture Partners is a venture capital firm that focuses on early-stage investments, providing capital and strategic support to help founders build transformative companies.
Bessemer Venture Partners
Bessemer Venture Partners is a venture capital firm with a long history, investing in companies across various stages and sectors, known for its deep industry expertise and global presence.
What's next for Electric AI?
The significant enterprise-level funding and recent strategic investment indicate that Electric AI is in a strong growth phase, likely focused on expanding its market reach and developing advanced features for its IT support platform. Future strategic initiatives may include enhancing its AI capabilities for predictive IT maintenance, broadening its client base across new verticals, and potentially exploring international market expansion. The consistent backing from prominent venture capital firms suggests a strong belief in Electric AI's business model and its potential to disrupt the IT services sector.
See full Electric AI company page
