100K customers being supported to address Fuel Poverty
in UK Kudos Switchee
Switchee, a Fund–1 portfolio company of Pontaq, is an analytics and insights
platform with a smart thermostat that helps eliminate fuel poverty and supports
effective asset management for social landlords. Switchee also delivers real-time
data that gives social housing providers the insights and tools needed to support
residents and proactively manage homes
Switchee closed £6.5 million (roughly INR 67 crore) Series A funding round led by
AXA Investment Managers last year and have fueled their growth to hit this
important milestone. They have grown 2.2x in revenue to £5M in FY23 and are on
track to deliver £13.5M in revenue in FY24.
Having expanded their operations into the Dutch market, Switchee intends to scale
operations within the top 5 of its customers who collectively possess 129K homes.
Switchee aims to acquire 51 new logo customers this year who collectively own an
additional 1.4M social homes.
As Adam, founder of Switchee quotes “Pontaq took part in our seed round in 2018.Since then they have been very supportive, advising on the strategy and identification of key KPIs for our subsequent rounds, always acting in the best interests of the company. We wouldn’t be where we are today without Prem and Pontaq.”
With customer engagement at its core, Switchee is expanding its capabilities from
a Smart Thermostat company to a leading data and analytics powerhouse –
helping customers save money, improve comfort and reduce emissions.
As MJ’s lyrics go
There are ways to get there – If you care enough for the living. Make a little space, make a better place.
Switchee cared, made a little space (smart thermostat) and is making the world a
better place. Glad we chose to sing along!
To learn more about Switchee, visit www.switchee.com