Electric gets another $7 million in financing from 01 Advisors and the Slack Fund

Electric gets another $7 million in financing from 01 Advisors and the Slack Fund

Electric, a platform that intends to put IT departments in the cloud, today revealed new funding following a continuation of its Series B earlier this year. Dick Costolo and Adam Bain (01 Advisors) and the Slack Fund participated in the $7 million capital infusion. 01 Advisors set up most of the funding ($6 million) […] The financing scenario with Electric is a bit unique. Electric is a platform developed to support the existing IT department of an organization, or in some cases, replace an outsourced IT department. Electric allows IT to install its software application on every corporate device, giving the department a bird’s-eye view of the company’s IT scenario. Electric is also integrated with the APIs of top software programs, like Dropbox and G-suite, letting IT manage most of their day-to-day jobs through the Electric control panel. …