Kraken, the fastest growing software provider for utilities in the UK, has licensed its tech platform to Severn Trent.
Kraken will enable the launch of smart products for Severn Trent’s smart meter customers. This will help to reduce water consumption and leaks which is integral to managing water supplies sustainably.
Severn Trent customers will also get to experience the benefits of AI in their customer service interactions with its call centre teams, powered by Kraken.
Built by Octopus Energy Group, Kraken has disrupted the energy sector with its famously efficient operating model, drastically reducing the cost-to-serve, and improving customer and employee satisfaction.
Kraken launched to the market in 2016 with Octopus Energy – now the second largest energy supplier in the UK – as its first client. It turbocharged Octopus’ rapid expansion and helped make it the only energy supplier to be Which? recommended six years in a row.
Severn Trent is the first water company to achieve the highest rating for its environmental performance from The Environment Agency for four consecutive years. The Midlands based FTSE 100 has recently revealed plans to invest £12.9b in its region, bringing 7,000 jobs and multiple new major projects that include laying new water mains the length of the UK – twice – in response to climate change and population growth.
This is Kraken’s latest licensing agreement outside of energy. It follows fast on the heels of the company’s deals with broadband company Cuckoo and comes on the same day as Kraken announces its expansion into Japan through its landmark deal with Tokyo Gas.
Kraken now has the potential to manage 40-50 million energy, water and broadband accounts worldwide with companies including Plenitude, EDF, and Origin Energy.
Deepak Ravindran, CEO of Kraken for Utilities, said:
“Unleashing the power of Kraken unlocks both better service for customers, and operational efficiencies never seen before in utilities. We’re thrilled to join forces with Severn Trent as we gear up to bring our cutting-edge tech to even more utilities.”
Jude Burditt, Director of Customer Solution at Severn Trent, said:
“This will transform the experience our customers receive, and we’re super excited about bringing the benefits to millions of people in the Midlands. Whether it’s embracing game-changing AI technology, linking up data with our smart meters or solving problems first time, it will help to revolutionise how we deliver a great customer service to our customers.”
