10 Cool Tech Companies That Raised Funding In October 2021
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.
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.”