NY-Based Startup Electric Raises $25 Million Series B

Electric, a chat-based, real-time IT support solution for small and mid-sized companies, secured $25 million as part of a Series B financing round led by GGV Capital with participation from existing investor Bessemer Venture Partners. To date, Electric has raised $38 million.

With this additional funding, the New York-based startup plans to further invest in the platform’s core features, including automated IT troubleshooting, systems administration and data-driven recommendations for widely-used office technologies and SaaS applications. In addition, Electric plans to invest across its client success, sales and marketing, operations, and executive teams.