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Buzzacott successfully advise on a £3m Series A

Buzzacott have successfully advised Open Energy Market (‘OEM’), the UK’s leading online trading platform for energy contracts for medium-large enterprises on a £3m Series A from Calculus Capital.

Founded in 2013 and based in Surbiton, OEM works with all 16 major providers of gas and electricity as an online tender and trading platform for large (£40k+) energy contracts. This has streamlined and increased the transparency of the laborious broker based process.

Customers include Dairy Crest, Easyjet, Southampton Football Club and Suffolk County Council. The deal was EIS qualifying and OEM will use the funds to increase their direct sales force and software team as well as implement platform development including extensions into other commodities such as water and expansion into the US market.

Chris Maclean, CEO and Founder of Open Energy Market said “This investment is great news for Open Energy Market. It gives OEM the resources to execute our ambitious plans. We are already seeing the benefits of successfully raising investment, having bolstered our Sales team with a number of experienced professionals and with the commercial technology roadmaps it really is an exciting time for the business. It has been a great experience working with Buzzacott, and in particular Andy, the advice and guidance along the way has been invaluable and we look forward to working with them for years to come.”

Andy Hodgetts, Manager said “It has been a pleasure to work with the team at Open Energy Market. Given their knowledge and passion for the industry I have no doubt they will be able to disrupt the industry and continue on their impressive trajectory. I’m glad we have managed to play our small part in making this happen and look forward to continuing to support hem in the future.

For further information, contact Andy Hodgetts

T 020 7556 2622

E hodgettsa@buzzacott.co.uk

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