Fundraising Fox
Electric Ai
New York, US · Founded 2016 · Delaware corporation · 493 employees on LinkedIn · 16 known investors
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Electric provides IT management and security software designed for small and medium-sized businesses to manage their IT environments in-house. The platform replaces traditional managed service providers by offering transparency and control over IT operations and security.
Also known as Electric · Electric.ai
Founders & leadership
Electric Ai was founded in 2016 by Ryan Denehy.
Investors · 16
How we know: Bessemer Venture Partners's portfolio page · board seat on SEC Form D · the VCSheet dataset · research · electric.ai · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Charge VC's portfolio page · Not right? Tell us
How we know: Everywhere Ventures's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: Harmonic Growth Partners's portfolio page · Not right? Tell us
How we know: Nat Turner's portfolio page · Not right? Tell us
How we know: Notable Capital's portfolio page · the VCSheet dataset · research · electric.ai · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Primary Venture Partners's portfolio page · board seat on SEC Form D · the VCSheet dataset · Not right? Tell us
How we know: Silicon Badia's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Supernode Ventures's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Two Culture Capital's portfolio page · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Reported raises · per SEC filings
Form D private placements$208.2M disclosed across 8 of 12 rounds · 2016–2022
▶$23.4MraisedAug 2022 · 9 investors · Other TechnologyRule 506(b)
- Emmanuelle SkalaDirector
- Robert GoodmanDirector
- Ryan DenehyExecutive Officer, Director
- Jeff RichardsDirector
- Brad SvrlugaDirector
- Tim HarveyDirector
- Offering amount
- $23.4M
- Amount sold
- $23.4M
- First sale
- Mar 2022
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$90MraisedOct 2021 · 19 investors · Other TechnologyRule 506(b)
- Bradley SvrlugaDirector
- Emmanuelle SkalaDirector
- Tim HarveyDirector
- Jeff RichardsDirector
- Robert GoodmanDirector
- Ryan DenehyExecutive Officer, Director
- Offering amount
- $90M
- Amount sold
- $90M
- First sale
- Oct 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$40MraisedFeb 2021 · 13 investors · Other TechnologyRule 506(b)
- Tim HarveyDirector
- Jeff RichardsDirector
- Brad SvrlugaDirector
- Ryan DenehyExecutive Officer, Director
- Robert GoodmanDirector
- Offering amount
- $40M
- Amount sold
- $40M
- First sale
- Feb 2021
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$20.5MraisedMay 2020 · 8 investors · Other TechnologyRule 506(b)
- Ryan DenehyExecutive Officer, Director
- Tim HarveyDirector
- Robert GoodmanDirector
- Jeff RichardsDirector
- Brad SvrlugaDirector
- Offering amount
- $21.5M
- Amount sold
- $20.5M
- First sale
- Mar 2020
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$23.1MraisedJan 2019 · 5 investors · Other TechnologyRule 506(b)
- Robert GoodmanDirector
- Rudd DavisDirector
- Ryan DenehyExecutive Officer, Director
- Brad SvrlugaDirector
- Offering amount
- $25M
- Amount sold
- $23.1M
- First sale
- Jan 2019
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$9.3MraisedMar 2018 · 6 investors · Other TechnologyRule 506(b)
- Rudd DavisDirector
- Ryan DenehyExecutive Officer, Director
- Brad SvrlugaDirector
- Michael C. Brown, Jr.Director
- Offering amount
- $9.3M
- Amount sold
- $9.3M
- First sale
- Mar 2018
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$1MraisedOct 2017 · 13 investors · Other TechnologyRule 506(b)
- Ryan DenehyExecutive Officer, Director
- Brad SvrlugaDirector
- Michael C. Brown, Jr.Director
- Rudd DavisDirector
- Offering amount
- $1M
- Amount sold
- $1M
- First sale
- Sep 2017
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$1MraisedOct 2016 · 12 investors · OtherRule 506(b)
- Ryan DenehyExecutive Officer, Director
- Offering amount
- $2M
- Amount sold
- $1M
- First sale
- Sep 2016
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Electric AI (Electric) is a New York-founded software company that provides IT support to businesses through software automation rather than traditional local IT consultants. The company positions itself as unifying HR and IT within the tools where work already happens, combining a partner network, AI-native tools and autonomous workflows intended to automate business operations and reduce IT spend.
The product portfolio has expanded from an internal proprietary automation platform called Turbine, launched in September 2018, to Gigawatt, an AI-powered IT assistant introduced in August 2023 that lets small and medium businesses troubleshoot IT issues, check device details and access tailored support resources. In November 2023 the company launched a free version of its SaaS product, the Electric IT Hub, for device, application and employee management, and in March 2024 it added the Electric Hardware Store for device and peripheral procurement. Electric became a certified Apple Authorized Reseller in December 2023, supporting device procurement and provisioning.
Electric has also grown through acquisitions of managed service providers, buying SINU, a New York City MSP with more than 20 years in business, in November 2020, and Techvera, a North Texas IT support provider serving over 90 clients in the Dallas-Fort Worth market and across the US, in September 2021.
Founding story
Founder and CEO Ryan Denehy conceived of Electric while running a previous startup in San Francisco in 2013, where he handled internal IT tasks such as setting up computers for new employees. He observed that back-office functions like HR and finance had vertical SaaS tools that automated manual work, while the only options for IT were hiring a local IT consultant or doing it in-house, and that venture investment in IT software was aimed at corporate IT departments rather than the many businesses that have an IT budget but no IT department. After his prior startup was acquired and he moved back to New York, he began meeting periodically with Bowery Capital investors Mike and Loren from March 2016 to test ideas; by June 2016 the concept crystallized as providing IT support while writing software to automate tasks such as password resets and hardware inputs. Denehy started the company as a solo founder, having decided against taking on a co-founder for its own sake after two prior companies with the same co-founder; that former co-founder served on Electric's board in the early days. The idea took shape in August 2016 and the company went live with its first customer, Betts Recruiting, in December 2016.
Business model
Electric sells IT support and management as a subscription SaaS service, replacing retainer-based local IT consultants with software-driven support. It offers a free tier of the Electric IT Hub alongside paid support, and generates additional business from device procurement and provisioning through its Hardware Store and Apple Authorized Reseller status. Distribution is increasingly channeled through partnerships with HR and payroll platforms such as ADP, Justworks and TriNet, and through a partner network the company says can reach 47% of the US workforce and 75 million users.
Subscription-based SaaS IT support, with a free version of the Electric IT Hub and revenue from device procurement and provisioning.
Traction
Reported milestones include 1,000 users and 40 customers (August 2017); 2,000 users and 51 customers (November 2017); 8,000 users and 200 customers with more than 30,000 tickets answered (November 2018); over 40,000 supported users (October 2021); and more than 47,000 end users across over 1,000 customers with over 500 full-time employees and roughly 44,000 tickets answered per month (July 2022).
Latest developments
In May 2025 Electric expanded its existing partnership with ADP to automate HR and IT tasks, followed in July 2025 by an integration with Justworks for synchronized, secure transfer of employee data. In March 2026 it partnered with TriNet to launch TriNet IT, embedding device purchasing, hardware management and access control into onboarding and offboarding workflows, and in July 2026 it launched general availability for ADP users and prospects under the ongoing ADP partnership.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Electric competes against the traditional model of local IT consultants and managed service providers charging monthly retainers, positioning software automation as a more modern alternative for businesses without internal IT departments. It has consolidated part of that market by acquiring MSPs SINU and Techvera, and states that its partner network reaches 47% of the US workforce and 75 million users.
Electric argues its market-product fit came from modernizing an existing business function rather than creating a new category: replacing manual, services-based IT work with automation software. Differentiators cited include proprietary automation (Turbine), the Gigawatt AI IT assistant, a free IT Hub tier, Apple Authorized Reseller status for device procurement, and deep integrations that unify HR and IT data with payroll and PEO platforms.
Technology
Electric builds automation software for IT tasks such as password resets and hardware provisioning. Its first proprietary platform, Turbine, launched in 2018. Gigawatt is an AI-powered IT assistant that checks device details and surfaces tailored support resources for troubleshooting, and the Electric IT Hub is a SaaS platform for device, application and employee management. The company describes its stack as AI-native with autonomous workflows and integrations into HR and payroll systems.
Go-to-market
Direct sales to SMBs complemented by embedded distribution through HR, payroll and PEO platforms — including an expanded ADP partnership with general availability for ADP users and prospects, a Justworks integration for synchronized employee data transfer, and a TriNet partnership that embeds device purchasing, hardware management and access control into onboarding and offboarding workflows. The company also runs an annual customer conference, Elevate, and has grown its service footprint by acquiring established managed service providers.
Small and medium-sized businesses that have an IT budget but no dedicated internal IT department, across industries including recruiting, non-profit, media and entertainment, professional and financial services, legal, oil and energy, transportation, construction and manufacturing.
Geography
Headquartered in New York City, with operations extending through acquisitions in New York (SINU) and North Texas (Techvera, serving the Dallas-Fort Worth market and clients across the United States). The company states its partner network reaches 47% of the US workforce.
History
Electric was founded in 2016 and went live with its first customer in December 2016. It grew to nine employees by March 2017, reached 1,000 users across 40 customers by August 2017, and 2,000 live users, 51 customers and 18 employees by November 2017. In September 2018 it launched its first proprietary technology, Turbine, and signed a term sheet with Bessemer for a $9 million raise; by November 2018 it had 8,000 users, 200 customers and 70 employees. It closed a Series B in January 2019 with Notable Capital (formerly GGV Capital), with participation from Slack Fund, and moved into a WeWork headquarters in New York City. Electric acquired the MSP SINU in November 2020, closed a $40 million Series C in February 2021 led by StepStone (formerly Greenspring Associates) with existing investors, acquired Texas-based Techvera in September 2021, and announced a $90 million Series D in October 2021 while surpassing 40,000 supported users and holding its first annual conference, Elevate. By July 2022 it had more than 47,000 end users, over 1,000 customers and over 500 full-time employees. Yotam Hadass was appointed CTO in November 2022. Subsequent milestones include the Gigawatt AI IT assistant (August 2023), the free Electric IT Hub (November 2023), Apple Authorized Reseller certification (December 2023), the Hardware Store (March 2024), an expanded ADP partnership (May 2025), a Justworks integration (July 2025), a TriNet partnership launching TriNet IT (March 2026) and general availability for ADP users (July 2026).
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Related companies · 3
Companies working in the same space as Electric Ai.
Timeline · 15
launches, deals, and filingsJoint solution embedding device purchasing, hardware management and access control into onboarding and offboarding workflows.
Integration connecting HR and IT for synchronized and secure transfer of employee data.
Expansion of the existing ADP partnership to enable businesses to automate key HR and IT tasks.
Device procurement offering covering devices and peripherals.
Yotam Hadass, previously Senior Director of Engineering at WorkMarket and VP of Engineering at StructuredWeb, was appointed Chief Technology Officer.
Electric held its first annual conference, Elevate, headlined by Dan Levy, while surpassing 40,000 supported users.
Electric acquired Techvera, a North Texas IT support provider of over 20 years serving more than 90 clients in the Dallas-Fort Worth market and across the US.
Electric acquired SINU, a New York City managed service provider with more than 20 years in business serving non-profit, media and entertainment, and professional and financial services clients.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Founders Who Fundraise - Ryan Denehy (Electric AI) | Bowery Capitalbowerycap.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Electric Ai do?
- Electric AI is a SaaS company that uses automation and AI to deliver IT support and unify HR and IT workflows for businesses.
- Who founded Electric Ai?
- Electric Ai was founded by Ryan Denehy in 2016.
- Who are Electric Ai's investors?
- Electric Ai's investors include Bessemer Venture Partners, Charge VC, Everywhere Ventures, Four Acres Capital, Harmonic Growth Partners, Nat Turner, Notable Capital, Primary Venture Partners and 8 more.
- How much funding has Electric Ai raised?
- Electric Ai has disclosed $208.2M raised across 8 of its 12 known rounds.
- Where is Electric Ai headquartered?
- Electric Ai is headquartered in New York, US.