Overview

Electric AI provides IT support services designed to simplify and speed up technology management for businesses. Their technology allows for real-time issue resolution, ensuring that support is available whether employees are working remotely, onsite, or in a hybrid environment. Electric AI offers a range of services including security management at various levels (device, app, and network), as well as solutions for employee onboarding and offboarding. What sets Electric apart from its competitors is its combination of advanced technology and a dedicated team of IT technicians, which enables them to deliver fast and efficient support. The company's goal is to make IT management effortless for businesses, allowing them to focus on their core operations.

Simplify's Take

What believers are saying

• Electric raised $20M in Series D funding, reaching a $1B valuation.
• Growing demand for remote IT support boosts Electric's market potential.
• Electric's new onboarding/offboarding feature enhances its platform's functionality.

What critics are saying

• Increased competition from AWS and Cato Networks threatens Electric's market position.
• Developing a lightweight product version may cannibalize existing offerings.
• Integration with Slack and Teams risks disruption if APIs or terms change.

What makes Electric AI unique

• Electric offers real-time IT support with over 100 IT technicians.
• Electric integrates IT management with Slack and Microsoft Teams for seamless communication.
• Electric provides comprehensive IT solutions, including security, device management, and data insights.

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Funding

Total Funding

$208.8M

Above

Industry Average

Funded Over

6 Rounds

Notable Investors:

Bessemer Venture Partners

Notable Investors:

Bessemer Venture Partners

$20,000,000

Series D

Mar 2022

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Below Average

Industry standards

Ind Avg. $77M

$20M

$49M

$50M

$70M

$80M

$100M

View all funding stages