Eliq Raises €3m Funding to Expand UK Market Presence for Utility Customer Engagement Solution
Eliq, a Swedish B2B SaaS provider for the utility market, has secured new equity investors to help accelerate market adoption of its customer engagement platform with particular focus on the UK market.
GOTHENBURG, Sweden (November 16th, 2017) – Eliq AB, the pioneer in intelligent energy monitoring and optimisation solutions for utilities and their consumers, today announced it has raised €3m in funding lead by a Swedish syndicate of private angel investors.
Following recent customer growth in France, the funds will be used to expand Eliq’s presence in the UK market and further accelerate the development of the company’s product and artificial intelligence (AI) technology.
Eliq offers a SaaS (Software-as-a-Service) platform which enables energy suppliers to deploy engaging mobile apps that help its consumers to monitor, understand and optimise their home energy usage. Utilities using Eliq’s platform, compared with sending paper energy bills at the end of the month, are typically seeing improved customer loyalty and, on a daily basis, a stronger digital relationship. The end result is increased customer loyalty and ultimately a more detailed understanding of each customer’s pattern of energy consumption.
Photo of Eliq’s founders: Olof Hartelius, Joakim Botha, Håkan Ludvigson, Joakim Fischer and Joakim Ottander.
Håkan Ludvigson, Eliq CEO and founder commented, “With the rate of consumer energy switching rising steadily across Europe, more and more companies recognise the need to delight their customers and provide additional value beyond the commodity energy product.”
He continues, “Utility customer engagement was first disrupted by the U.S. company Opower, whose energy bill-insights product was bought-out by enterprise software giant Oracle for $532m in 2016. Eliq is moving this concept forward to the next digitisation level, defining a new generation of utility customer engagement, based on mobile apps, artificial intelligence and seamless integration with new energy-tech such as solar panels, energy storage, EVs and home automation devices.”
The company recently announced a partnership with Canadian IT giant CGI, to resell its customer engagement platform as part of CGI’s utility billing system software.
“We’re seeing a surge in demand for Eliq’s technology amongst our utility consumers and will be offering the service to all of our customers over the coming months.” says Johan Anderhag, Sales Manager at CGI .
With this new funding, Eliq is now poised to grow its capability to execute further growth and begin a Series A-funding round during the course of 2018.
Eliq is a Swedish tech company specialised in the analysis and visualisation of energy data. Our aim is twofold: to reduce energy waste by helping households understand their consumption, and through this, assist energy suppliers engage with their customers with real-time information and personalised communications.