# Electric AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/electric-ai

- Industry: IT Infrastructure
- Headquarters: New York, US
- Website: www.electric.ai
- Total disclosed funding: $208M
- Latest round: Series D (Mar 24, 2022)
- Investors on record: 15

## About

Electric AI, Inc. is a technology firm specializing in integrated IT management solutions for small to medium-sized businesses, focusing on cybersecurity, device management, and automation for enhanced operational efficiency.Founded in 2016 in New York, US, Electric AI, Inc. develops a comprehensive IT management platform. The company has successfully completed 9 investment deals, with its latest funding round being a Series D in March 2022, in which it raised USD 23.35 mn led by Harmonic Growth Partners. The firm is co-founded by James Rich, Mark Payne, Reese Ormand, and Ryan Denehy, with Alain De Vos as the current CEO. The total amount raised by Electric AI to date is USD 23.35 mn, with a current valuation of USD 925.93 mn.Electric offers a unified IT management platform tailored for small to medium-sized businesses (SMBs). Its product suite includes mobile device management (MDM), cybersecurity solutions, and automated employee management, all designed to enhance visibility and control over IT operations. By addressing the needs of SMBs, Electric ensures secure access to essential tools while streamlining processes, making IT management more efficient and accessible.Electric operates on a subscription-based revenue model aimed at B2B clients, utilizing a pay-per-user pricing structure. This model allows businesses to flexibly scale their IT management services as needed, ensuring clients can access critical tools such as MDM and cybersecurity solutions while optimizing their operational workflows. By facilitating seamless employee onboarding and access to necessary applications, Electric establishes itself as an integral partner in the IT landscape of its clients.Following its Series D funding round in March 2022, where Electric AI raised USD 23.35 mn, the company plans to leverage these funds to expand into new markets and verticals. The strategic focus will likely include targeting regions beyond its current footprint in North America and Europe. Additionally, the funding will support potential strategic acquisitions that align with its growth objectives. Electric AI aims to enhance its product offerings and market presence, paving the way for sustained development and service enhancements.

## Funding rounds

- Series D, Mar 24, 2022, $23M — Harmonic Growth Partners
- Series D, Oct 19, 2021, $90M — Greenspring Associates, Granite Asia, Vintage Investment Partners, Primary Venture Partners, Bessemer Venture Partners, Atreides Management, 01A, Slack Venture Capital
- Series C, Feb 23, 2021, $40M — Greenspring Associates, Granite Asia, Vintage Investment Partners, Primary Venture Partners, Bessemer Venture Partners, Atreides Management, 01A
- Series B, May 8, 2020, $6M — Slack Fund, 01A
- Series B, Mar 6, 2020, $15M — 01A
- Series B, Jan 8, 2019, $23M — Granite Asia, Bessemer Venture Partners, Supernode Ventures
- Series A, Mar 14, 2018, $9.3M — Primary Venture Partners, Bessemer Venture Partners, Bowery Capital, Supernode Ventures
- Seed, Sep 22, 2017, $1M — Primary Venture Partners, Bowery Capital, Charge Ventures, Supernode Ventures, Dolik Ventures
- Seed, Sep 30, 2016, $1M — Primary Venture Partners, Gunderson Dettmer, Bowery Capital, Charge Ventures

## Investors

- Primary Venture Partners (https://capitalatlas.ai/funds/primary-venture-partners) — Seed, Series A, Series C, Series D
- Gunderson Dettmer — Seed
- Bowery Capital (https://capitalatlas.ai/funds/bowery-capital) — Seed, Series A
- Charge Ventures (https://capitalatlas.ai/funds/charge-ventures) — Seed
- Supernode Ventures (https://capitalatlas.ai/funds/supernode-ventures) — Seed, Series A, Series B
- Dolik Ventures (https://capitalatlas.ai/funds/dolik-ventures) — Seed
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series A, Series B, Series C, Series D
- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series B, Series C, Series D
- 01A (https://capitalatlas.ai/funds/01a) — Series B, Series C, Series D
- Slack Fund (https://capitalatlas.ai/funds/slack-fund) — Series B
- Greenspring Associates (https://capitalatlas.ai/funds/greenspring-associates) — Series C, Series D
- Vintage Investment Partners (https://capitalatlas.ai/funds/vintage-investment-partners) — Series C, Series D
- Atreides Management (https://capitalatlas.ai/funds/atreides-management) — Series C, Series D
- Slack Venture Capital (https://capitalatlas.ai/funds/slack-venture-capital) — Series D
- Harmonic Growth Partners (https://capitalatlas.ai/funds/harmonic-growth-partners) — Series D