Electric, the leader in providing IT technology for small and medium-sized businesses, has raised $90 million in Series D funding.
Existing investor GGV Capital is leading the round, with participation from existing investors Bessemer Venture Partners, Primary Venture Partners, Greenspring Associates, 01 Advisors, Atreides Management, Vintage Investment Partners and Slack.
Electric raised $189 million to date.
The new capital will be used to drive additional growth through investments in product development, customer service and company culture. Electric plans to expand its partner and integration ecosystem and extend its IT management platform, providing more proactive tools for customers to efficiently manage employees, networks, devices and applications.
Electric currently supports over 700 customers and 40,000 end users, including Morning Brew, Pacific Catch and Social Fly.
