Instead of contracting with one of the many independent information technology (IT) consultancies or building an in-house team of IT professionals, some small and medium-sized businesses are instead opting for a different approach to IT support.
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NYC-based (formerly known as Electric AI) is a provider of real-time IT support services, facilitated through chat. The company offers troubleshooting, system administration, and software maintenance consultation through chat, and can deploy an in-the-flesh expert in situ for specialized work that can鈥檛 be facilitated over text.
Today, Electric that it鈥檚 raised $25 million 鈥渁s part of a Series B鈥 round, according to a statement the company provided to SA国际传媒 News. The round was led by ; , which led Electric鈥檚 Series A round in March 2018, followed-on in the Series B round announced today.
The round brings some new folks to the company. As part of the transaction, GGV Capital鈥檚 managing partner, , joins Electric鈥檚 board of directors. He appears to replace Michael C. Brown, founder and managing partner of , who was on Electric鈥檚 board as of Series A, which SA国际传媒 News covered at the time. Bessemer partner Bob Goodman, GP , and CEO remain on the board.
Additionally, the company announces that it鈥檚 added a chief operating officer and a VP of sales to its leadership team. Rani Yadev is the new COO at Electric. Previously, she was VP of marketing at meal kit delivery company . David Weiner was brought on as Electric鈥檚 VP of sales after scaling the inside sales team at real estate tech upstart .
For now, the expert on the other side of the chat window is more often than not a human. But that will change over time. Back when Electric raised its Series A round, CEO told SA国际传媒 News that 鈥渁bout 50 percent of support tickets aren鈥檛 about fixing broken things, but doing stuff like setting up an email address, turning on a firewall, or connecting to an enterprise platform.鈥 Workflows can be established for that sort of routine issue, and be facilitated using AI-backed chat bots.
In a statement, Denehy said that 鈥淭his past year has brought exponential growth for Electric and I鈥檓 proud to call us the fastest-growing company in our competitive set.鈥 The company says it now has more than 300 customers and serves the IT demands of over 10,000 of their employees.
Denehy told SA国际传媒 News that the company earned a 鈥渘ine-figure鈥 valuation in the deal. It鈥檚 possible that this is only part of a larger capital-raising campaign by the company.
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