Electric, the startup that automates IT, raises $25 million from GGV

TechCrunch | 1/23/2019 | Staff
bluelilly (Posted by) Level 3
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/01/Denehy-New-Headshot-1.jpg?w=600

Electric.ai, the NY-based startup that offers chat-based IT support, has announced the close of a $25 million Series B round led by GGV. As part of the deal, partner Jeff Richards will be joining the board.

Founder Ryan Denehy launched Electric in 2016. Previously, he’d run two startups which were sold to USA Today Sports and Groupon respectively, where he realized that all of the simplicity that came with using a service like Zenefits simply didn’t exist in the IT world.

Service - Providers - Way - Money - Denehy

“It was all local service providers, and they all charge way too much money,” said Denehy. “I thought ‘this is so nuts!’ Companies are using more and more technology every day.”

With his second startup, Swarm, he saw even more clearly how big of a problem this was as the company sold a product that required hardware installation at retailers.

Company - Top - IT - Providers - Industry

“We were building a company on top of local IT providers, and I saw up close and personal how difficult it was and how fragmented the industry was.”

And so, Electric was born.

Premise - IT - Focus - Administration - Distribution

The premise is relatively simple. Most of IT’s tasks focus on administration, distribution and maintenance of software...
(Excerpt) Read more at: TechCrunch
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