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.
- 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), Severn Trent (Water Utility), Portsmouth Water, Cuckoo (Broadband), Accenture (Global Implementation Partner)
Notable customers
E.ON, EDF, Origin Energy, Tokyo Gas, Severn Trent Water
Major milestones
Spun off as standalone entity at $8.65B valuation in Dec 2024, Appointed Amir Orad as CEO in Aug 2024, Surpassed 75 million contracted accounts globally
Growth metrics
Valued at $8.65B; 75M+ contracted accounts globally; £212M+ CARR (Apr 2024)
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).
Official website: https://kraken.tech/