Elektrik Secures Significant Growth Investment from Lead Edge Capital to Accelerate Electrical Transmission & Distribution Procurement for the Infrastructure Supercycle

Elektrik will use the new funding to scale its tech-enabled procurement platform, helping EPCs and electrical distributors source, quote, and kit medium voltage components faster and seamlessly

Investment comes as surging demand for data center and renewable energy infrastructure drives unprecedented need for specialized electrical procurement via expertise-driven best execution

SALT LAKE CITY--(BUSINESS WIRE)--Elektrik, the leading procurement platform for sourcing critical electrical infrastructure components, today announced a new investment from Lead Edge Capital, a growth equity firm. Elektrik is a tech-enabled distributor of electrical T&D components that simplifies procurement for the contractors and distributors who build data centers, renewable energy projects, and commercial & industrial infrastructure.

Elektrik combines specialized product expertise, real-time sourcing across a deep network of manufacturers, and job-site-ready component delivery, to replace the slow, inefficient manual quoting process that has historically defined the industry. The result is superior execution to enable faster project timelines, fewer errors, and reliable access to hard-to-source parts when they are needed most.

“Elektrik built the technology layer that electrical T&D sourcing never had, turning a slow, inefficient procurement process into a modern high-accuracy workflow,” said Aaron Darr, Principal at Lead Edge Capital. “Elektrik is scaling at exactly the right moment to support the current infrastructure supercycle and is well-positioned to meet this critical need, working directly with contractors and distributors to solve sourcing challenges that legacy suppliers are not equipped to handle.”

The investment comes at a moment of unprecedented demand for electrical T&D infrastructure. The rapid buildout of data centers, accelerating adoption of renewable energy, and broad modernization of the US power grid are driving a surge in complex electrical projects and with it, an acute need for faster, more reliable procurement of specialized components. Medium and high voltage is an essential piece of the puzzle, and it is where the most complexity lives: the components are highly specialized, often hard to identify without deep product knowledge, and a mistake can postpone or stall a multimillion-dollar project.

"Sourcing electrical T&D components has always been the hardest part of any infrastructure project. The parts are specialized, the supply chain is fragmented, and one wrong move can stall a multimillion-dollar job. We built Elektrik to be the easy button for that process,” said Mario Dealba, Founder & CEO of Elektrik. “What used to take 20 days of calls, coordination, and waiting, we turn into one. Our goal is simple: take the expertise that used to live in the heads of a few specialists and make it available to anyone, at scale."

The company serves a wide range of customers including electrical contractors, engineering and construction firms, and broadline distributors across data centers, renewable energy, utility, and commercial and industrial end markets. Elektrik works with the majority of the top 50 EPCs in North America and the top 20 electrical distributors, including TE Connectivity, Hubbell, Eaton, ABB Richards Manufacturing Company, Burndy, and others.

“As a firm we have been focused on finding the right opportunities to back innovative companies building the infrastructure behind major themes around which we have real conviction such as energy, supply chain, and growing demand on these areas from artificial intelligence,” said David Berdoff, Head of Originations at Lead Edge Capital. “Elektrik is a great example of this in action, and we are thrilled to be backing the business and team.”

The investment underscores Lead Edge Capital's conviction in companies supporting the building of physical infrastructure behind the AI era. As demand for data centers, renewable energy, and grid modernization accelerates at an unprecedented pace, the supply chain supporting that buildout has become a critical bottleneck and specialized procurement expertise has never been more valuable.

D.A. Davidson acted as sole financial advisor to Elektrik in the transaction. Goodwin Procter LLP acted as legal advisor to Lead Edge in connection with its investment.

About Elektrik
Elektrik is the leading procurement platform for sourcing critical electrical infrastructure components, providing contractors, EPCs, and distributors a faster, more transparent way to source medium and high voltage cable, connections, transformers, and related equipment. By combining specialized product expertise with real-time sourcing across a deep network of leading manufacturers, Elektrik replaces the slow, fragmented procurement process that has historically defined the industry. What once took 20 days, Elektrik delivers in one. The company works with the majority of the top 50 EPCs in North America and the top 20 electrical distributors, serving customers across data centers, renewable energy, utility, and commercial and industrial end markets. Learn more at elektrikapp.com.

About Lead Edge Capital
Lead Edge Capital is a $9 billion growth equity firm investing in software, internet, and tech- enabled businesses globally. The firm has invested in a number of major software and internet companies around the world, including Alibaba Group, Arrive Logistics, Asana, Azul Systems, Bazaarvoice, Clearscore, Duo Security, Grafana, Holistiplan, LiveView Technologies, SafeSend, Toast, Wise, and Yousign. One of the main drivers of Lead Edge’s success is its unique investor base, a network of 700+ executives, entrepreneurs, and dealmakers who have built and run some of the world’s most successful companies. In addition to providing flexible capital, Lead Edge leverages this global advisory group to connect portfolio companies with the customers, partners, talent, and advisors needed to accelerate growth. Lead Edge Capital was founded in 2011 and has offices in New York City, London and Santa Barbara.