Advertisement

Cloud News

10 Cool Tech Companies That Raised Funding In October 2021

Rick Whiting

Next-generation technology developers in security, SASE, database software, machine learning and sales automation applications were among the startup companies that reported new rounds of funding in October.

Electric

Headquarters: New York

CEO: Ryan Denehy

Funding: The $90 million Series D funding round brings Electric’s total financing to nearly $190 million.

Investors: The round was led by existing investor GGV Capital with participation from existing investors Bessemer Venture Partners, Primary Venture Partners, Greenspring Associates, 01 Advisors, Atreides Management, Vintage Investment Partners and Slack.

What the company does: Electric is a software-centric MSP focused on automating IT for the small business market.

CEO Quote: “Our plan was to go out and get investment for growth. We needed investment to hire software engineers and build our platform. We knew we needed to invest in sales and R&D. Fortunately our existing investors were excited about what we‘re doing so there was no need to spend a couple of months pitching new investors.”

 

 
Rick Whiting

Rick Whiting has been with CRN since 2006 and is currently a feature/special projects editor. Whiting manages a number of CRN’s signature annual editorial projects including Channel Chiefs, Partner Program Guide, Big Data 100, Emerging Vendors, Tech Innovators and Products of the Year. He also covers the Big Data beat for CRN. He can be reached at rwhiting@thechannelcompany.com.

Advertisement
Advertisement
Sponsored Post
Advertisement
Advertisement