IT startup Electric reaches unicorn status and other NYC tech news – New York Business Journal

Electric, a provider of IT services for small and medium-sized businesses, has raised $20 million in Series D-1 funding from Harmonic Growth Partners, bringing its valuation to $1 billion.
The round comes five months after its $90 million Series D with GGV Capital, Bessemer Venture Partners, Greenspring Associates and others. Electric’s total amount raised to date has reached more than $200 million.
The company, which has about 1,000 customers and more than 45,000 employee end-users, said it will use the new funds for additional strategic acquisitions and to expand into new markets and verticals. Electric bought Techvera and Sinu last year and said it plans to identify more strategic opportunities in 2022.
In other New York City-area startup news:
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