Overview

Electric AI provides IT support services designed to be fast and easy for businesses. Their technology allows for quick resolution of IT issues, whether employees are working remotely, onsite, or in a hybrid setup. Electric AI offers services such as real-time troubleshooting, security measures for devices, applications, and networks, as well as support for employee onboarding and offboarding. What sets Electric apart from other IT service providers is their combination of advanced technology and a skilled team of IT technicians, ensuring efficient and effective support. The company's goal is to simplify IT management for businesses, making it effortless and quick.

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 lightweight product version targets startups and small businesses.

What critics are saying

• Increased competition from AWS and Cato Networks threatens Electric's market share.
• Potential cannibalization from Electric's lightweight product version needs strategic management.
• Integration with Slack and Microsoft Teams may face challenges if APIs 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

$203.1M

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