VC-backed MSP Launches SMB Referral Partner Program

Credit: Electric

Electric, a venture capital-backed MSP, has launched a Referral Partner Program that features payouts, co-marketing opportunities, and discounts that partners can pass on to their end-customers.

Electric’s target referral partners generally engage small and midsize businesses (SMBs) with 10-500 employees, and operate within the U.S., the MSP said. Initial referral partners include:

Electric also has an established Technology Partner Program, which features hardware and software providers that have been “assembled to give Electric customers exclusive discounts and integrated IT services,” the MSP asserted.

Electric’s Venture Capital Funding: Recent Milestones

Electric is a venture-backed business that achieved unicorn status in March 2022, though we  don’t know the MSP’s current valuation. The most recent financial raise, completed in early 2022, involved $20 million in and extended Series D funding led by Harmonic Growth Partners. That extended funding surfaced five months after Electric raised $90 million in October 2021.

Electric supports roughly 1,000 end-customer accounts that represent roughly 55,000 end users — that’s up from 720 customers and 45,000 end-users as of March 2022. The MSP, founded in 2016, has 879 employees listed on LinkedIn. The privately held firm’s financial results are undisclosed.

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