September 8th, 2021 Read Time: 4 minutes
The Electric Team provides real-time IT support to 25,000 users and centralized IT management to over 400 customers.
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We recently held a Q&A between both founders about our latest acquisition. Read more below to learn why it was a natural fit for both companies.
Ryan Denehy, Electric Founder & CEO: I was on Facebook in 2017 and I kept seeing videos of this guy in my feed talking about IT. I have no idea how we actually became friends with each other on Facebook, but I said to myself, “There's this guy running this really interesting IT business in Texas, I should probably reach out.”
Reese Ormand, Techvera Founder & CEO: I think we had some mutual contacts there, and as we started to get our brand on social media the algorithms were working in our favor. It was really interesting to see as we’ve gone through this acquisition journey— I actually forwarded an email over to Ryan the other day from 2017. It was like, “I’m starting this company, here's what we're doing, we're looking for potential partnerships” and that was the start of where we're at today.
Ryan: In my mind, it was always a partnership of equals when you consider the complementary skill sets and aspects of each other's businesses. We've been talking about doing something together like this for years. It was just a question of waiting for the time to be right.
On the Electric side, we've been able to raise money from investors, build proprietary software, and reinvent what we think that customer experience should look like. On the flip side, Reese and Techvera have been excellent at figuring out how to serve a wide range of customers in the most five star, top shelf way. In my mind, if you put those two things together, then you've got something that's unstoppable.
Reese: Following Ryan’s career, and what he's done with Electric since 2017, just going from those initial conversations and seeing where they were at on the roadmap then and witnessing this continual growth to where the company is at today.
To see that growth and that momentum— that was a motivating factor, that was something that was very intriguing to us at Techvera. I think one of the most important things in this whole whole journey is the way that Ryan and Electric are thinking about managed services and what the new iteration of delivering them looks like.
Electric has some truly transformative things that they are enacting in terms of engaging ways to work with clients. These are things that, as a traditional IT company, can be out of reach for us. So it’s really exciting for us to be part of that journey and to help transform what managed services looks like in the future.
Ryan: For all of our customers— it's going to give us more capabilities and better service. If you like what you have already, it's not going to change, but if you want more... we can give you more now.
Electric boasts over 400 customers with more than 30,000 employee end-users through its IT platform today, experiencing significant growth since its inception in 2016. Over the last year alone, Electric more than doubled its business, increased headcount to over 400 employees, and surpassed the 30,000 end-user mark. The acquisition of Techvera follows significant investments in Electric’s own offerings, with the acquisition of one of New York’s top MSPs, Sinu in November, and its Series C $40M funding raise in February. The company continues to strategically expand its services and market presence on its path towards becoming the top IT technology and support provider to SMBs in the country.
Techvera was founded in 2001 with a mission to transform technology into the ultimate business asset. The company prides itself on serving as an IT partner - rather than a provider - to support the modern business. Techvera is regularly recognized for its excellence, with accolades such as Inc. 5000, Best of Denton, Best of Denton County, Dallas Techweek, Channel Futures’ MSP 501, and Corporate Vision’s Small Business Awards.