Severn Trent to revolutionise service for millions of customers with Kraken
- Severn Trent licence tech platform Kraken to transform customer experience
- Enables Severn Trent to deliver top quality service to 4.6 million customers
- Comes as Octopus Energy’s Kraken announces deal with Tokyo Gas, one of Japan’s largest energy utilities
London, 12th October 2023 – Kraken, the fastest growing software provider for utilities in the UK, strikes a deal to license its tech platform to leading water company Severn Trent, to drive outrageously good customer service for 4.6 million customers.
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.”
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Kraken Technologies offers a best-in-class end-to-end platform for energy supply, and is operating in the UK, Japan, US, New Zealand, Australia and most of mainland Europe. Kraken’s proprietary platform is contracted to serve 40 million energy accounts across the globe through licensees, with the potential for further 10 million to follow soon. Its first client was Octopus Energy where Kraken manages 5.8 million retail customers globally and over 60,000 business customers (the largest of which is Arsenal FC).
Based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralised, decarbonised energy system.
Kraken Technologies is part of Octopus Energy Group and was developed to enable select third parties to take advantage of the technologies developed by Octopus Energy. It has already been licensed by major global players including Origin Energy, E.ON and EDF. https://kraken.tech/
About Octopus Energy Group
Octopus Energy is a global energy and technology group, driving the affordable, green energy system of the future. Its operations span 17 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.
Octopus serves 5.8 million customers globally through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support 40 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON and Origin Energy, with the potential for further 10 million to follow soon.
Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.
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