| Founded | 2016 |
|---|---|
| Closed | 2023 |
| Country | USA |
| Sector | Saas |
| Collapse type | Silent Shutdown |
Electric
"The Bessemer-backed IT management platform for SMBs raised $254M and shut down in November 2023 after 7 years of building without achieving the margins that would justify the investment."
Quiet closure with no public announcement
Key Events Timeline
Electric built an IT-as-a-service platform for small and medium businesses, combining software for IT management with on-demand human technicians who could resolve issues remotely or in person.
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