CoControl helps council housing tenants manage their heating budgets while staying sufficiently warm during winter. In tandem, CoControl provides duty of care software services ‘social landlords’, so that they can better target their resources. Our Chairman is Andrew Wordsworth, who recently achieved the first equity Crowdfunding exit with E-Car Club on Crowdcube (CityAM).
The Social Housing Challenge
The financial burden on the UK’s 4.1m householders that live in social housing has increased as a result of benefit cuts and reduced rent protection schemes. Of these householders, 43% live in poverty and struggle to balance food expenses/rent with the increasing cost (in real terms) of gas and electricity bills (>20% and >41%, respectively).
Social landlords are now required to comply with ‘duty of care’ legislation which requires landlords to continuously improve on the well-being of their tenants – in spite of receiving less overall funding.
- Helps tenants manage heating requirements within their available budgets through a simple interface and cloud-based intelligence which draws on financial, comfort, and weather datasets.
- Through our social metrics dashboard, enables landlords to improve the precision of their social investment targeting for their increasingly squeezed £7.1bn repairs and maintenance budget. This ensures householders in the greatest need receive the support first.
- Through the provision of a live data stream, CoControl’s platform enables a range of cost effective ‘duty of care’ software services being iteratively developed (e.g. vulnerable home cold alarms).
Home Energy Management (HEM) solutions received £260m of Venture Capital funding in 2014. Unlike high-end, hardware-led, B2C businesses (e.g. Nest & HIVE), CoControl is positioned as a scalable B2B product using light touch hardware to underpin B2B software services. Significant strength to scale CoControl is provided by Sustainable Ventures’ incubation support and sister home energy companies’ deep industry connections and experience of working with 10,000’s of homes.