Open Energy Market, a Surbiton, London, UK-based online platform for companies to secure the best deal with energy suppliers, raised £3m in funding.
Calculus Capital, the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist, made the investment.
The company intends to use the funds to strengthen their sales and software teams, expand their platform to cover additional fuels and waste services and make a move into the US market.
launched in 2013 and led by Chris Maclean, Chief Executive Officer, Open Energy Market provides an online platform that allows companies to secure the best deal with energy suppliers. Businesses provide details of their usage for all major suppliers to submit bids for the contracts through a live reverse auction process. Users include Dairy Crest, EasyJet, Southampton Football Club and London Business School and other 200 + businesses and organisations.
The platform is available for medium to large companies.