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Kraken Technologies

Category: AI in Climate / Energy

A cloud-native, AI-enabled operating system for utilities that digitizes and automates the entire energy supply chain, from customer billing to grid asset management. Kraken Technologies was founded in 2019. The company is led by Amir Orad. Based in London, United Kingdom. Team size: 2000+. Total funding raised: $1.0B. Latest round: Growth / Spin-off Round ($1.0B, Dec 2024). Key investors include D1 Capital Partners, Fidelity International, Ontario Teachers’ Pension Plan, Generation Investment Management, CPP Investments.

AMW Analysis

Kraken Technologies provides a cloud-native, AI-enabled operating system that digitizes and automates the entire energy supply chain, from billing to grid asset management. Its platform replaces fragmented legacy IT systems, aiming to reduce cost to serve by up to 40% and enable smart grid flexibility such as dynamic EV tariffs. The company was spun out from Octopus Energy in December 2024 at an $8.65 billion valuation, following a $1 billion funding round from investors including D1 Capital Partners, Fidelity International, and Ontario Teachers’ Pension Plan. This spin-off marks the decoupling of energy software from traditional utility supply, positioning Kraken as an independent operating system for a decentralized grid. Recent news indicates that contracted annual recurring revenue doubled in 18 months, and the platform now manages nearly 100 million customer accounts. The funding and spin-off reflect a strategic move to scale the platform independently, with AI-driven automation becoming central to utility operations.

AMW analysis, generated from 2 tracked news signals.

Founded
2019
Headquarters
London, United Kingdom
Team size
2000+
Total funding
$1.0B

Value proposition

Replaces fragmented legacy IT systems with a single integrated platform, reducing 'cost to serve' by up to 40%, enabling rapid migration of millions of accounts, and facilitating smart grid flexibility (e.g., dynamic EV tariffs).

Products and solutions

Kraken Customer (CIS, Billing & CRM), Kraken Flex (Distributed Energy Resource Management & Asset Control), Kraken Field (Workforce & Field Operations Management), Smart Flex (Consumer Demand Response & Flexibility), Kraken Utilities (Broader suite for Water & Broadband)

Unique value

Utilizes a 'single source of truth' data model on a cloud-native monolith architecture (Python-based), allowing for real-time data processing and AI-driven automation that legacy utility systems cannot match.

Target customer

Large-scale global utility providers (Energy, Water, Broadband) and Grid Operators

Industries served

Energy Retail & Generation, Water Utilities, Broadband & Telecommunications, Clean Tech / Renewables

Technology advantage

Proven capability to migrate millions of customers in record time (e.g., E.ON, EDF) without service interruption. The platform's 'EnTech' capabilities allow utilities to launch complex, dynamic green energy tariffs (like 'Intelligent Octopus') that balance the grid automatically.

How they differentiate

Single-stack cloud-native 'EnTech' platform replacing fragmented legacy systems; proven ability to migrate millions of accounts in months; integrated management of distributed energy assets (EVs, heat pumps).

Main competitors

SAP, Oracle, Gentrack, Kaluza

Key partnerships

E.ON (Migrated ~5M+ customers), EDF Energy (UK), Origin Energy (Australia), Tokyo Gas (Japan), National Grid (US - 6.5M customers), Severn Trent (Water Utility), Portsmouth Water, Cuckoo (Broadband), Accenture (Global Implementation Partner)

Notable customers

E.ON, EDF, Origin Energy, Tokyo Gas, National Grid, Severn Trent Water

Major milestones

Spun off as standalone entity at $8.65B valuation in Dec 2025, Appointed Amir Orad as CEO in Aug 2024, Surpassed 90 million contracted accounts globally, Signed landmark US deal with National Grid (May 2025)

Growth metrics

Valued at $8.65B; 90M+ contracted accounts globally; £380M CARR (Nov 2025)

Market positioning

Global 'EnTech' market leader and legacy disruptor

Geographic focus

UK, Europe, Asia-Pacific (Australia, Japan), North America

Patents and IP

Holds patents related to 'Consumer Access Devices' and utility data secure storage (e.g., Patent App. 20250061213); primary IP lies in proprietary software stack and trade secrets.

About Amir Orad

CEO of Sisense (Data Analytics unicorn) for 9 years; CEO of Actimize (Financial Crime Analytics); Co-founder of Cyota (Cybersecurity).

Latest news about Kraken Technologies

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