Enistic helps larger companies to reduce their energy spend and save money. Founded in 2009, Enistic offers a complete solution that includes cloud based energy management software, real-time online monitoring hardware, and a focused set of consultancy packages.
We sell the majority of our products with a monthly software subscription or via a monthly all-inclusive charge that bundles many of the commonly purchased items together into one long-term subscription package.
We raised £341,000 in April 2014 via Crowdcube at a pre-money valuation of £2.5million and now, with the business growing due in part to recently introduced European legislation, we wish to capitalise on our success and expand our operations into other territories either via distribution or franchise agreements.
Since the previous fund raising round in 2014:
- Our contracted revenues have risen by almost 500%
- The company has begun generating monthly profits
- We have secured a further 100 enterprise level customers, including some of the best known brands in UK
- We have developed and launched a new range of “Generation 2” wireless energy monitoring products to complement our online software, that are not only lower priced than our previous range, but should also be more simple to operate and easier to install.
We have maintained a consistent online marketing campaign and have previously run advertising in the national press. Earlier this year, the company was voted Runner Up for such awards as “Crowdcube Technology Company of the Year” and “The Ashden Awards”.
The company is currently experiencing increased revenues due to the recently introduced Energy Savings Opportunity Scheme legislation that allows the UK to comply with European law mandating all member states to implement local energy management legislation. Annualised contracted revenues are now in excess of £1.1 million and every new customer we recruit for ESOS becomes a potential target for up-sell and cross-sell over the coming 8 years, which is the lifetime of the current implementation of ESOS.
The money we are raising now will be used to exploit the succesful formula we developed in the UK by expanding our sales channels into other European territories, either via the granting of distribution agreements or through the establishment of dedicated European franchises.