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. This focus on integrated IT solutions positions Electric AI as a key player in the managed IT services sector, catering to the evolving needs of modern workplaces seeking efficiency and robust technological 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 Charge Ventures, Gunderson Dettmer, Primary Venture Partners, and Bowery Capital
Private Equity (2017): $1M, investors not publicly disclosed
Series A (2018): $9.3M supported by Bessemer Venture Partners, Primary Venture Partners, and Bowery Capital
Series B (2019): $25M featuring Bessemer Venture Partners and GGV
Other Financing Round (2020): $14.5M backed by 01 Advisors
Other Financing Round (2020): $7M with participation from 01 Advisors and Slack Fund
Series C (2021): $40M led by GGV Capital, 01 Advisors, Greenspring Associates Inc, Bessemer Venture Partners, and Primary Venture Partners
Series D (2022): $110M supported by GGV Capital, Bessemer, Primary Venture Partners, Harmonic Growth Partners, and Greenspring Associates
Key Investors in Electric AI
GGV Capital
GGV Capital is a global venture firm investing in seed-to-growth stage companies across Social/Internet, Enterprise Tech, and Smart Tech sectors. They have a strong track record of backing innovative companies worldwide.
Bessemer Venture Partners
Bessemer Venture Partners is a venture capital firm established in 1911, with a global presence and a focus on early-stage investments across various technology sectors.
Primary Venture Partners
Primary Venture Partners is a venture capital firm that supports founders at the early stages of their companies, providing sector expertise and hands-on assistance to help turn ambitious concepts into successful businesses.
What's next for Electric AI?
The substantial enterprise-level funding and recent strategic investment signal a strong confidence in Electric AI's business model and future potential. This capital infusion is likely to fuel further expansion, enabling the company to enhance its platform capabilities, scale its operations, and broaden its market reach. Strategic investments suggest a focus on synergistic growth, potentially involving partnerships or acquisitions that align with Electric AI's mission to provide seamless IT support. The company is poised to further solidify its standing in the competitive IT solutions landscape, driving innovation and delivering enhanced value to its client base.
See full Electric AI company page
