Electric Raises $9.3M from Bessemer Venture Partners to Expand Automated IT Solutions Nationally

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Electric, the first platform to provide an automated, intelligent IT support channel for small and midsized businesses announces their $9.3M Series A financing led by Bessemer Venture Partners. The funding will be used to further develop their proprietary automation technology and to expand sales and marketing efforts to cities across the US.

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Electric is pioneering IT support for the modern office

Electric, the first platform to provide an automated, intelligent IT support solution for small and midsized corporate customers announces today that the company has raised an additional $9.3 million dollars. The Series A round was led by Bessemer Venture Partners and includes significant participation from Bowery Capital and Primary Venture Partners. Bob Goodman from Bessemer will be joining Electric's board of directors.

“Electric is pioneering IT support for the modern office,” said Bob Goodman, partner at Bessemer Venture Partners. “The multi-billion-dollar IT support industry has remained largely unchanged even as the number of devices and technology we use daily has increased exponentially. Electric founder and CEO, Ryan Denehy, has proven to be highly skilled at executing on his vision and we are extremely excited to partner with him and the rest of the team.”

Founded in October 2016, Electric allows small and midsize offices to get fast, efficient IT support across their organizations directly through Slack. Significantly reducing day-to-day IT time spend and providing intelligent recommendations for software and system upgrades. Since inception, Electric has signed over 130 customers and expanded service from their home market in New York to include an ever-growing list of US cities including San Francisco, Los Angeles and Philadelphia.

“Our team has done a phenomenal job delivering on the original promise of the company. Whether it’s sales, product and engineering, or the support team we’ve successfully met or beat our objectives. Most importantly, customers love it,” says CEO and Founder Ryan Denehy.

Central to Electric is the real-time chat interface, which provides users with the ability to get assistance for their day-to-day software, tools and applications. Electric also provides additional system monitoring, management, and insights. “We’re building technology that allows us to flip the current support model on it’s head, offering prescriptive solutions to our customers. The long-term vision of getting in front of core technology requests and problems before you have them is extremely exciting, and we’ve made extraordinary headway getting there,” says Chad W Pry, Vice President of Product and Engineering.

Electric plans to use the new capital to develop a national sales footprint, and to achieve ‘significant’ levels of task automation for the core technology platforms they are supporting.

For more information about Electric please visit http://www.electric.ai

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Ryan Denehy
Electric AI Inc.
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