Electric AI was founded in 2016 by Ryan Denehy. After a $90 million Series D funding round in 2021, Denehy told reporters that "we could have a company that could be ready to go public in two to three years," adding that "it’s going to take more capital to really prepare ourselves and the team and the product to be on a true pre-IPO trajectory."
Electric is the developer of IT platforms for small and midsize businesses. The company's solutions combine a centralized IT management dashboard with real time support. Since 2020 the company has acquired IT service companies Sinu and Techvera. Electric has raised more than $200 million in venture capital from investors including GGV, Bessemer, Primary Venture Partners, Greenspring Associates, and Slack. The company announced a $1 billion valuation in 2022.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
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The stock price for Electric AI will be known as it becomes public. Here are similar public companies: Dropbox (NAS: DBX), Okta (NAS: OKTA), VMware (NYS: VMW), Workday (NAS: WDAY), Atlassian (NAS: TEAM).
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Electric AI is a private company and not publicly traded.
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